Bithumb Global, the South Korea-based cryptocurrency exchange, said that it was looking forward to developing a regulated bitcoin exchange in India.
The co-founder and managing director at Bithumb Global said that their firm was looking to expand in India by partnering with local crypto exchanges, funding Indian crypto startups and introducing new initiatives for traders in India.
The company will be engaging with the Indian regulators to develop the exchange, even as the apex court is hearing a case wherein the bitcoin operators have questioned the move by the RBI to restrict banking channels for virtual currency transactions. A government panel has also suggested a ban on the crypto trade in the nation.
Sim added that the company was open to talking to regulators and working with them to be a regulated exchange and as a reputed brand from South Korea would not get involved in illegal or unregulated trade.