One of the largest exchanges in South Korea Bithumb plans to issue its own token called Bithumb Coin. About it writes the local edition of the cryptocurrency TokenPost.

According to him, the token will be distributed through ICO which will be held in Singapore. Bithumb can’t run a crowdfunding campaign in Korea, because where lawmakers have banned such activities in the last year.

“We know that Bithumb Coin is developed by the local branch of the acquired unit Bithumb. Details such as schedule or size has not been announced”, — said the press Secretary Bithumb.

Otitis that Bithumb is not the first exchange, decided to launch their own token. At the beginning of 2018 the exchange Huobi has announced the release of Huobi Token. Before her on a similar path have decided to go Binance and Kucoin.

As the experience of some projects, which have now decided to join and Bithumb, a ban on the holding of ICO in South Korea has not had the desired government results. Startups just spend their ICO in foreign jurisdictions, which is not a violation of the law. Earlier this ICO held a Korean startup ICON (ICX), officially spread your tokens across Switzerland.