South Korea
BlockTempo
Bithumb Issued Black Cards to Big Spenders for 'a Little Fun' — After a Korean Tax Audit: It Counts as an Entertainment Expense
- Bithumb gave its top-tier VIP clients prepaid 'black cards' as a perk for high-volume trading.
- The three highest-ranked big spenders could each use up to KRW 140 million (about USD 100,000) per year on the cards.
- After auditing Bithumb's taxes, Korean authorities determined the card spending qualifies as a business entertainment expense.