South Korea’s Tax Authority, DAXA Form Committee to Prevent Illegal Transactions: Report South Korea’s tax Authority, the Korea Customs Service group and five major cryptocurrency exchanges including
Bithumb Korea,
Coinone, Korbit, and Streami have formed a group to prevent illegal foreign transactions, according to a report
by News1 KR. The Digital Asset Exchange Association (DAXA), is comprised of the five most prominent cryptocurrency exchanges in South Korea including
Upbit, Bithumb, Coinone, Korbit, and Gopax. DAXA plays an advisory role concerning the new committee.
DAXA is the industry’s most important self-regulating body in South Korea. The DAXA members are the only exchanges in the country with the operating permits required to offer fiat-won trading.
Korea Customs Service was formed in 1970 and is run under the Ministry of Economy and Finance and is headquartered in
Seo District, Daejeon in South Korea.
