RATE Group | South Korean Cryptocurrency Exchange Giant ‘Bithumb’ Reopens User Registration Feature
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South Korean Cryptocurrency Exchange Giant ‘Bithumb’ Reopens User Registration Feature

30 Aug South Korean Cryptocurrency Exchange Giant ‘Bithumb’ Reopens User Registration Feature

Posted at 20:26h in Cryptocurrency News by

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Bithumb has resumed registering new users, more than two months after suffering a hack. The South Korea based platform experienced a massive spike in trading volume following the announcement. Some experts believe the user registration resumption by the platform contributed to the recent Bitcoin price increase.

Back to Normal Cryptocurrency Trading Operations

According to a local South Korean news media platform, Yonhap News, Bithumb has reopened the registration feature for the new users. The move comes after an agreement between Bithumb and Nonghyup Bank – the platform’s banking partner, to resume providing banking services to the platform.

In the aftermath of the June 2018 hack, the bank had discontinued its partnership with Bithumb owing to perceived lack of compliance on the part of the exchange platform to customer protection protocols. The South Korean government has taken several steps to eliminate anonymous cryptocurrency trading. Thus, virtual currency exchange platforms…

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