- Crypto exchange Bithumb stated in a shareholders’ meeting that it plans to expand to US markets.
- Bithumb has faced several regulatory complications in the past years.
Cryptocurrency is expanding from the local to the global on a daily basis. The sector has become a site for partnerships and has revolutionized international relations over the past few years with decentralization. In the recent past, the crypto community has seen several partnerships and globalization of cryptocurrency firms.
Notably, prominent South Korean cryptocurrency exchange Bithumb announced that it aims to get listed on US markets in 2025. According to a local news (Korean Economy) report, the exchange made the announcement in a temporary shareholders’ meeting held on Monday.
Additionally, the crypto exchange has strategized to offer an IPO for its listing on Nasdaq. Relatedly, Bithumb has been working on several advancements in the past few months. The exchange, in August, announced that it would be expanding its lowest withdrawal fee compensation to all virtual assets traded in the exchange.
On the other hand, in March 2024, the crypto exchange divided its human resources to facilitate sole focus on the main virtual asset exchange. Moreover, in 2020, Bithumb had aimed to get listed on the Kosdaq markets, however, it was unable to get listed due to regulatory complications at the time.
Bithumb’s History in Regulatory Complications
The South Korean crypto exchange garnered market attention back in 2023 but for the wrong reasons. Bithumb faced regulator and government scrutiny during the time for law violations. Subsequently, the exchange’s owner was arrested for embezzlement in February 2023.
However, in the recent past, Bithumb has managed to win back the confidence of investors and remains the second-largest crypto exchange in South Korea. Notably, the exchange in June this year, announced the launch of an Internet Computer Protocol (ICP) Korean Won market.
On the other hand, the crypto exchange’s performance in US markets remains uncertain. Notably, Bithumb aims to get listed on Nasdaq in the latter half of 2025.
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