Crypto Exchange Bithumb to Issue Token in Singapore

Crypto Exchange Bithumb to Issue Token in Singapore  The South Korean crypto exchange, Bithumb has recently planned to issue its own token and an ICO (Initial Coin Offering) according to local news outlet TokenPost reported on April 19. Bithumb’s token sale will be conducted in Singapore due to the fact that ICO’s are banned in South Korea. The sales for these ICO’s will be focused more on large-scale investors. Bithumb has not announced when the coin is to be expected to. South Korea’s Financial Services Commission announced in late September 2017 that it would ban all ICO’s citing the increased risk of financial scams being the primary motivator. Even though the FSC remain skeptical towards future ICO’s, local financial organizations are attempting to authorize them by enabling certain systems to be put in place to enable strict protocol. Other cryptocurrency exchanges have announced plans to issue their own tokens as well. Huobi announced back in January that they would issue a Huobi Token (HT) that would be capped at 500 million tokens. They did however state that the token would not be an ICO, but rather a trading platform token that could be claimed by active users of Huobi.

The South Korean crypto exchange, Bithumb has recently planned to issue its own token and an ICO (Initial Coin Offering) according to local news outlet TokenPost reported on April 19.

Bithumb’s token sale will be conducted in Singapore due to the fact that ICO’s are banned in South Korea. The sales for these ICO’s will be focused more on large-scale investors. Bithumb has not announced when the coin is to be expected to.

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South Korea’s Financial Services Commission announced in late September 2017 that it would ban all ICO’s citing the increased risk of financial scams being the primary motivator. Even though the FSC remain skeptical towards future ICO’s, local financial organizations are attempting to authorize them by enabling certain systems to be put in place to enable strict protocol.

Other cryptocurrency exchanges have announced plans to issue their own tokens as well. Huobi announced back in January that they would issue a Huobi Token (HT) that would be capped at 500 million tokens. They did however state that the token would not be an ICO, but rather a trading platform token that could be claimed by active users of Huobi.

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