Bithumb – The second largest crypto exchanges in South Korea, since after a month long freeze can open up new account registrations soon.
As per a recent news from a local source ‘Yonhap News’ the Bithumb exchange will soon meet specific necessities as mentioned by the regulatory authorities in South Korea for restoration of banking support again.
According to a local bank in the country ‘Nonghyup bank,’ it has antecedently suspended its services for Bithumb exchange in July this year when their were rumors in the country related to the exchanges hack.
Mentioning further a spokesperson stated:
“We were dedicated to keep the customers assets separate, and that we won’t settle for interest or deposits any further.”
Recent in January this year, South Korea introduced wide-ranging rules for cryptocurrency exchanges, including forbidding foreign investors and guaranteeing all traders have linked their accounts with their ‘real name.’
Trade volumes on Bithumb, that had tanked following the banking issues, have hiked sharply within the past few hours.
Bithumb is presently the fifth largest digital exchange around the globe by daily volumes, seeing around more $360 Mln’s in trades over just past twenty four hours.