Crypto Exchange Bithumb To Reportedly File For IPO In South Korea
Crypto Exchange Bithumb To Reportedly File For IPO In South Korea
June 25, 2020
Crypto Exchange Bithumb To Reportedly File For IPO In South Korea
Crypto Exchange Bithumb To Reportedly File For IPO In South Korea
June 25, 2020

Major South Korean cryptocurrency exchange Bithumb is planning to hold an initial public offering (IPO) in South Korea.

On June 24, MoneyToday reported that Bithumb Korea, the trading platform’s operator, has begun preparing for a stock market launch, tapping Samsung Securities as its underwriter. 

Bithumb is reportedly facing a number of potential obstacles (recent crypto taxation) that could prevent it from successfully filing an IPO in South Korea.

During this month, South Korean Finance Minister, Hong Nam-Ki, announced plans to impose a tax on cryptocurrency, with more details to be revealed in July. 

At the beginning of the year, Bithumb filed a complaint with the National Tax Service. It suggested that the imposed $69 million tax bill is baseless, given that cryptocurrencies are not legally recognized in the country.

The report suggests that current regulatory uncertainty surrounding digital assets might prevent local regulators from green lighting Bithumb’s IPO application in the near future.

ALSO READ :  Huobi Japan Opens Voting Line For Users On Listing 6 New Tokens

Source: Cointelegraph | Image: Unsplash

Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Bybit Rolls Out A BTC/USD Quarterly Futures Contract

Bybit Rolls Out A BTC/USD Quarterly Futures Contract

Bybit rolls out a BTC/USD quarterly futures contract today. Two contracts will be offered at launch BTCUSD1225 by settling on December 25, 2020, and BTCUSD0326, which will be settled on March 26, 2021. It has been...

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.