Bithumb Reopens User Registration Amid Market Recovery

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Bithumb Reopens User Registration Amid Market Recovery

By Ryan Warner
August 29th, 2018

South Korea's second largest crypto exchange, Bithumb, will reopen user registration this week.

One of the largest financial institutions in South Korea, FH Bank, is expected to sign an agreement with Bithumb on August 30 to provide users with virtual bank accounts, allowing new users to trade on the platform.

Earlier this year Bithumb's relationship with NH Bank dematerialized and a security breach which resulting in a closure of deposits and withdraws has kept Bithumb from registering new users.

The Korean government approved Upbit, Bithumb, Korbit, and some other cryptocurrency exchanges of having adeuqate security measures moving forward.

It's expected that the influx of new users now able to register with Bithumb will bring fresh capital into the market as they are able to access the liquidity of Bithumb.

Local media has reported that Upbit's government search and seizure in June came up clean. The legitimizing of Upbit has restored some confidence in short term expectations of the markets in the country.