Odaily Planet Daily News Bithumb won the second instance of the 130 million won (about 97,000 US dollars) corporate tax lawsuit. On August 20, the Seoul High Court overturned the first instance verdict and ruled that Bithumb won. The case originated in 2019, when the tax authorities imposed 180 million won (about 134,000 US dollars) in corporate tax on Bithumb due to its change in the valuation method of virtual assets, which was later reduced to about 130 million won. The second instance court held that there were no clear accounting regulations at the time, and Bithumb's choice of the "grand average method" to value virtual assets was legal, and the virtual assets it held should not be regarded as inventory assets, so there was no need to declare a change in the valuation method.