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Bithumb looking to engage with government for regulated exchange

The company is looking to expand in India by partnering with local cryptocurrency exchanges.

, ET Bureau|
Updated: Oct 03, 2019, 05.13 PM IST
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A government panel has also recommended a ban on cryptocurrency trade in the country.
MUMBAI: Bithumb Global is looking to build a regulated bitcoin exchange in the country, the South Korea-based cryptocurrency exchange said.

Bithumb Global will engage with Indian regulators to build the exchange, it said, even as the Supreme Court is hearing a case where bitcoin operators have questioned a move by the Reserve Bank of India to restrict banking channels for virtual currency transactions. A government panel has also recommended a ban on cryptocurrency trade in the country.

The company is looking to expand in India by partnering with local cryptocurrency exchanges, fund Indian cryptocurrency startups, and introduce new initiatives for Indian traders, said co-founder and managing director Javier Sim.

“We are open to talking to regulators, working with them to be a regulated exchange. We are a strong brand from Korea and do not involve ourselves in unregulated or illegal trade,” he said.
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