Major South Korean crypto currency exchange Bithumb in the near future intends to begin expansion to two new friendly cryptocurrency States Japan and Thailand.
According to local media, Bithumb already engaged in the issue of obtaining permits for activities in Thailand, the Commission on securities and exchange Commission (SEC) .
In addition, the company registered in the country subsidiary Bithumb (Thailand) Company Limited, the registered capital of which amounted to about $90 000. We are working to create a website for the Thai stock exchange, with an opening planned for the end of October.
“Thailand plays an active role in the industry FINTECH and e-Commerce, and the government of the country interested in the digital currency as it promotes the business associated with smart cities,” said Bithumb.
We will remind that today enters into force the ICO regulations adopted by the Thai Commission on securities and exchanges. The legal framework has defined the minimum share capital of companies that are going to carry out an initial offer of coins, the powers of the SEC and other aspects.
As for Japan, she recognized the crypto-currencies as legal tender in April 2017. All companies wishing to open the country’s stock exchange, must obtain approval from the chief financial regulator of the country of the financial services Agency (FSA).
It should be noted that after cracking Coincheck, which occurred in January, the FSA strengthened supervision cryptomeria, and tightened the process of approval. However Bithumb hopes to receive a positive response from the FSA, which will allow them to begin work in the country in February 2019.
We will remind, earlier Bithumb announced plans for close cooperation with foreign partners to create a competitive trading platforms worldwide. According to Money Today, the company has opened subsidiary branches in Singapore and the UK.
“We are studying the question of opening subsidiaries in different countries such as USA and European countries, but the exact time when this will happen is not yet determined,” — said representatives of the exchange.
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