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Bithumb to Launch Regulated Bitcoin Exchange in India: Report

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5 years ago

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Bithumb cryptocurrency exchange

As per the report from The Economic Times published on October 3rd, Bithumb Global is looking to establish a regulated cryptocurrency exchange in India. Bithumb is a South Korean cryptocurrency exchange.

Even, the Supreme Court hearing is also going regarding the banking restrictions imposed by the Reserve Bank of India for Virtual currency transactions, Bithumb planning to establish regulated Bitcoin exchange in India.

Javier Sim, co-founder and managing director at Bithumb Global, said that he is open to talking with the Indian regulators to build the exchange. Sim said,

“We are open to talking to regulators, working with them to be a regulated exchange. We are a strong brand from Korea and do not involve ourselves in unregulated or illegal trade.”

Many cryptocurrency exchanges have been shut down due to the banking restrictions imposed by the Reserve Bank of India like Zebpay, Koinex, Coindelta etc.

But few are still operational like WazirX, Bitbns etc. where P2P trading is still going on.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.