Crypto exchange Bithumb could invest more than $8 million into South Korea’s regulatory sandbox.
Investment In Regulation Free Zone
South Korea’s second-largest city, Busan, has been the subject of prior headlines for its status as a deregulated outpost and for its desire to create a digital currency based on blockchain technology. In December. KT, South Korea’s telecom company, announced the introduction of a blockchain-based currency local to Busan.
The news report revealed that Bithumb has shown interest in putting 10 billion won toward the Tongsan Asset Exchange, located in Busan, as indicated by Korea’s Ministry of Small and Medium Venture Businesses.
South Korea’s Financial Services Commission plans to review the endeavor with Bithumb near January’s end.
The article added:
“The industry expects Bithumb to launch various blockchain-based financial businesses in Busan with this investment.”
Source: Cointelegraph | news1.kr