, ’s leading , has recently revealed plans to issue its own token, Bithumb Coin, in an (ICO), local news outlet reports Thursday, April 19.
According to the report, the Bithumb token sale will be conducted in since in South Korea. Bithumb is reportedly focusing on large-scale investors rather than individual investors. Bithumb did not confirm when the coin is expected to be launched, or the size of the venture, according to TokenPost.
Bithumb is not the first crypto exchange to launch its own token. In January, crypto exchange (HT) that would be capped at 500 mln tokens. Huobi noted that the token would not be an ICO, claiming that only active users of the trading platform would be able to receive HT.
South Korea’s Financial Services Commission (FSC) in late September 2017, citing increased risks of financial scams as a motivator. In March, Cointelegraph reported that the South Korean government to local financial authorities to legalize ICOs. While the FSC remains skeptical toward ICOs, local financial authorities are attempting to authorize them by enabling strict and systems.
Some South Korean crypto exchanges are already seeking to open branches abroad. Earlier this week, Coinone, the number three crypto exchange in South Korea, to launch an exchange in Indonesia in June.
Published at Fri, 20 Apr 2018 02:28:34 +0000
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