Bithumb’s stricter KYC requirements come in line with South Korea’s tightened Anti-Money Laundering regulations regarding foreign users of crypto exchanges.
BitHumb is one of the most popular cryptocurrency trading platforms in South Korea. The BitHumb exchange was founded by BTC Korea.com LTD company in 2013 and now is headquartered in Seoul. BitHumb is one of the leaders among the cryptocurrency trading companies in South Korea and Japan in terms of trading volume. Almost all options of BitHumb are oriented on Asian countries. Almost all popular cryptocoins are available, but the only available fiat currency there is the Korean Republic’s won. BitHumb fees for transactions are about $0.15 and don’t depend on the transaction’s amount. The platform has a difficult process of verification and other security properties. Nevertheless, the exchange was hacked in 2017 and it affected three percent of users. However, it was not a problem of security, as the access was made from a BitHumb employee’s PC.
The increased trading volume comes following the Financial Services Commission's requirement that crypto trading platforms register as digital asset service providers before Sept. 24.2488
A Thai firm claims that Bithumb’s Hong Kong subsidiaries caused it serious damage by unilaterally halting its business in Thailand.1278
After introducing staff-related trading restrictions a while ago, Bithumb will soon completely ban its employees from using its platform to trade crypto.3406
Klaytn bulls ignored a deadly moving average crossover after assessing KLAY's upcoming listing on Binance.5639
Both Coinone and Bithumb have reopened their customer centers in the capital city in response to a surge in domestic interest in cryptocurrencies.2621
A smart contract platform aimed at the decentralized finance market seeks to make it easy to transfer DApps from clogged, expensive Ethereum to Polkadot.10337
A platform that enables gamers to mine cryptocurrencies using their PCs is expanding into South Korea and is adding new features for its hundreds of thousands of users.28543
Is a surging premium in South Korea a top signal or a sign that the Bitcoin rally is only getting started?47831
Naver is reportedly looking to strengthen its position in the crypto industry with a potential equity stake in South Korea’s largest crypto exchange.8472
Korean media has reported that Morgan Stanley is in talks with Bident — who owns a 10% of Bithumb Korea.14030
South Korean financial regulators are developing a penalty regime for Anti-Money Laundering and Know Your Customer violations by cryptocurrency exchanges.5231
The operator of South Korean cryptocurrency exchange Bithumb has placed restrictions on trading accounts registered in jurisdictions that are deemed to be too lax in curbing money laundering.7101
Reports last week had claimed that Nexon was poised to acquire the exchange at an evaluated price of roughly $460 million.4972
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.8346