Bithumb to Launch Crypto Exchange in India

Suzat

October 3, 2019 7:46 pm

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Bithumb, South Korea based exchange is looking to establish its International platform Bithumb Global as a regulated cryptocurrency exchange in India.

According to The Economic Times reports the exchange is planning to expand its services to India by partnering with local crypto exchanges, funding local blockchain startups and working on new industry initiatives.

Javier Sim, co-founder and managing director at Bithumb Global, said that the company is planning to engage with Indian regulators to develop a new regulated exchange. 

Sim added:

“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.”

According to the previous year’s report, the Indian regulatory body was about to establish new rules on cryptocurrencies under the guidance of Prime Minister Mr. Narendra Modi. The report also claimed that the government will be providing some clarity on digital currencies by the beginning of January 2019.

In November 2018, Indian Finance Minister Mr. Arun Jaitley was openly asked to look into the regulation of Bitcoin and altcoins. Mr. Nischal Shetty, CEO of WazirX has reached out to India’s top lawmaker on Twitter.

The CEO requested the minister to focus more on cryptocurrencies’ potential benefits rather than its limited misuse. Mr. Shetty claimed that every industry has its own problems and they shouldn’t be the reason to hamper innovation which could benefit the country’s growth.

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