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After approval, can Bithumb shake Upbit’s crypto monopoly in South Korea
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H2: Bithumb crypto approval to compete with Upbit’s market dominance in South Korea
South Korea’s anti-money laundering unit recently approved Bithumb’s application to enable crypto services after a long wait. Almost 70 days to be precise.
Earlier today, Heo Baek-young, CEO of Bithumb, thanked its customers for accepting the exchange as a virtual asset business operator.
In the translated customer letter, Baek-young added,
“Bithumb is contemplating various ways to create a transparent ecosystem, such as the establishment of an investor protection committee that can manage and supervise illegal activities led by external experts for the first time in the industry.”
With that, the CEO also promised a strict listing process and investor protection
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