Bithumb Faces 6-Month Suspension In South Korea Over AML, KYC Violations
The South Korea-based cryptocurrency exchange, Bithumb, is facing significant legal and operational challenges following a major system error in February. This resulted in more than $43 billion worth of Bitcoin (BTC) being distributed to users, prompting scrutiny from regulatory bodies. The Financial Intelligence Unit (FIU) has preliminarily notified Bithumb of a six-month partial suspension of […]
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Bithumb, the second-largest cryptocurrency exchange in South Korea, is actively preparing for an initial public offering (IPO) on the KOSDAQ market, the country’s version of the NASDAQ in the United States, local news outlet Edaily reported on Nov. 12. Additionally, there is contemplation about a possible transition to the more prestigious KOSPI market. Bithumb’s strategic maneuvers […]
Leading Korean crypto exchange Bithumb is terminating its trademark agreements with two coin trading platforms operating abroad under its brand name. The move comes as digital asset exchanges in South Korea prepare to comply with the country’s stricter regulations for the industry that will be enforced in September. Bithumb Global and Bithumb Singapore to Change Their Brand Names as Bithumb Ends Trademark Agreements Two cryptocurrency exchanges, Bithumb Global and Bithumb Singapore, will not be able to use the Bithumb brand name and trademark starting from the last day of this....
South Korean media has reported that Nexon, a multi-billion dollar conglomerate led by CEO Kim Seong-Ju, plans to acquire the country's largest cryptocurrency exchange. After a troubled few months, crypto exchange Bithumb looks like it's set on turning over a new leaf through an acquisition by one of South Korea's top gaming firms. South Korean media reported on Jan. 7 that Nexon, a multi-billion dollar gaming conglomerate, has signed a memorandum of understanding, or MoU, to acquire the exchange at an evaluated price of 650 billion won ($460 million).Nexon, led by CEO Kim Seoung-Ju, will....
After introducing staff-related trading restrictions a while ago, Bithumb will soon completely ban its employees from using its platform to trade crypto. Bithumb, a major South Korean cryptocurrency exchange, is moving forward with trading restrictions for its employees by banning its staff from trading on its platform.According to an official Friday announcement, Bithumb will completely ban its employees from buying or selling crypto using a Bithumb account starting this month.The restriction intends to strengthen internal regulations and improve transaction transparency on Bithumb....
During the first week of April, South Korea’s ‘kimchi premium’ on domestic cryptocurrency exchanges had jumped over 18%, but then leveled off, equalizing with global exchange rates over the last two weeks. On Monday, as bitcoin prices spiked 8% higher surpassing the $54k zone, in South Korea, the premium on bitcoin climbed 4.56% higher than the most trading platforms worldwide during the last 24 hours. ‘Kimchi Premium’ on Domestic South Korean Exchanges Starts to Rise Again Bitcoin (BTC) and cryptocurrency markets have improved on Monday as the entire....