By Aaron - Bitcoin retailer - 02-11-2021
Financing officials in Korea have been avoiding disclosing information and reports regarding Bithumb and Coinone. There are more rumours over questions as to why the reports have yet to be released and due to the lack of details, many investors are beginning to panic.
Bithumb and Coinone are both popular cryptocurrency exchange platforms based in Korea; catering to a selection of both retail and corporate investors who are only too familiar with the space to be aware of any growing concerns when investing in cryptocurrency. Crypto investors are often on top of the game, and nothing escapes them when something goes wrong. So when the users of Bithumb and Coinone noticed that the companies have been neglecting to release their reports, worries amongst the communities began to rise. Despite the many attempts for an explanation there has yet to be any information from either cryptocurrency trading platform.
As part of South Korean law, cryptocurrency exchanges must comply with the legislation for Korean digital assets. To legally operate within the country includes registering with the Korean Financial Intelligence Unit (FIU). Even though the “Big Four” exchanged in South Korea must comply with the rules set in place, both Bithumb and Coinone have avoided disclosing reports for the second time in a row. The suspicious behaviour from the two companies have cause an uproar in speculations regarding the transactions the companies are making. Furthermore, the latest events have caused yet another delay for the Repair Result for the exchanges.