Bithumb a South Korean cryptocurrency exchange will form a new committee that will decide which cryptocurrencies can be traded on its platform.
Yonhap News reported the formation of the committee on August 22nd. As per the report the committee has to review the exchange’s listing once a month. As per Yonhap News, the committee is entitled as Listing Eligibility Deliberation Committee.
The committee will consider daily trading volume, change in base market capitalization and project support and other factors.
The cryptocurrencies that fail to meet the standards set by the committee will be given 60 days so that they can improve their status before being delisted.
One of the spokespeople for the exchange said:
“We will strengthen the check on technology development efforts and utility of cryptocurrency projects. We will take the lead in protecting investors by creating a transparent and safe trading environment.”
Also according to the report, the Bithumb’s committee will also have lawyers and professors, to bring expertise in legal, technical and fintech to reviews the exchange listing process.
Brand Change (BITHOLIC to Bithumb Singapore)
Bitholic, a Singapore based cryptocurrency exchange has changed its name to Bithumb Singapore. According to the notice regarding the brand change,
“BITHOLIC is planning to provide its service under the name of Bithumb Singapore through the brand licensing agreement with Bithumb (South Korea’s largest crypto exchange).”