Regulated Crypto Exchange To Be Launched By Bithumb Global in India
Bithumb Global is looking to establish a regulated cryptocurrency exchange in India.
According to The Economics Times , the platform will expand its services to India by partnering with local crypto exchanges, funding local blockchain startups and working on new industry initiatives.
Co-founder and managing director at Bithumb Global, Javier Sim, revealed that the company is willing to engage with Indian regulators to build a new regulated exchange. Javier 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.”
India is still waiting for a formal review of a proposed complete ban on cryptocurrencies. In mid-September, reports emerged that India was seeing the first signs of an anticipated brain drain as the government is planning to criminalize cryptocurrency investments in the country.
Sidharth Sogani, CEO of crypto and blockchain research firm Crebaco Global, assessed that India will lose nearly $13 billion worth of market if cryptocurrency is banned in the Asian country.