2024

Internet Computer

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<ul>
 <li>Bithumb to launch ICP Korean Won market on June 12, ahead of South Korea’s new crypto regulations effective July 19.</li>
 <li>South Korea’s new crypto law mandates 80% of crypto deposits in cold storage and insurance for user protection.</li>
 <li>Bithumb continues to expand despite past security breaches, introducing ICP trading amid new regulatory changes.</li>
</ul>
<p><a href="https://x.com/WuBlockchain" rel="noopener noreferrer nofollow">Wu Blockchain</a> reports that Bithumb, the second largest cryptocurrency exchange in South Korea, will introduce the ICP Korean Won trading market at 17:00 UTC+8 on June 12. This comes as South Korean exchanges expedite the listing of new coins in response to impending regulatory changes set for July.</p>
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   <p lang="en" dir="ltr">Bithumb, the second largest exchange in South Korea, announced that it will launch the ICP Korean Won trading market at 17:00 UTC+8 on June 12. Korean exchanges are accelerating the listing of coins due to the introduction of new regulations in South Korea in July.…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1800726996097638630?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 12, 2024</a>
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<h3 class="wp-block-heading" id="h-new-crypto-regulations-in-south-korea"><strong>New Crypto Regulations in South Korea</strong></h3>
<p>South Korea’s new <a href="https://cryptonewsland.com/seoul-prosecutors-issue-arrest-warrant-for-kang-jong-hyeon-report/" rel="noopener noreferrer nofollow">crypto regulations</a> are set to take effect on July 19, marking a significant shift in the country’s approach to cryptocurrency oversight. The Virtual Asset User Protection Act is designed to curb illicit activities within the market, such as insider trading, market manipulation, and fraudulent transactions.</p>
<p>To enhance user protection, the act mandates that cryptocurrency service providers must keep over 80% of deposits in cold storage and enroll in insurance programs to compensate users in case of security breaches.</p>
<h3 class="wp-block-heading" id="h-two-part-legislation-for-comprehensive-oversight"><strong>Two-Part Legislation for Comprehensive Oversight</strong></h3>
<p>The Virtual Asset User Protection Act is the first part of a broader regulatory framework aimed at the cryptocurrency industry. The second phase, currently under development, will address the standardization of crypto token issuance and information disclosure to ensure transparency and safeguard investor interests.</p>
<h3 class="wp-block-heading" id="h-bithumb-s-role-in-the-crypto-market"><strong>Bithumb’s Role in the Crypto Market</strong></h3>
<p>Bithumb, established by BTC Korea.com LTD in 2013 and headquartered in Seoul, is a leading <a href="https://cryptonewsland.com/whale-makes-a-splash-over-35m-xrp-swiftly-transferred-to-bithumb/" rel="noopener noreferrer nofollow">cryptocurrency exchange</a> in South Korea and Japan. It offers a wide range of popular cryptocurrencies, with the Korean Won being the sole fiat currency supported on the platform.&nbsp;</p>
<p>Despite a robust security framework, Bithumb experienced a significant security breach in 2017, affecting 3% of its users due to a compromised employee computer. Nonetheless, the exchange has continued to thrive, maintaining its reputation as a major player in the Asian cryptocurrency market.</p>
<h3 class="wp-block-heading" id="h-internet-computer-s-market-performance"><strong>Internet Computer’s Market Performance</strong></h3>
<p>The introduction of the ICP Korean Won trading market by Bithumb coincides with a significant milestone for Internet Computer (ICP), which has surpassed 2.5 million Internet Identities.&nbsp;</p>
<p>At press time, ICP was trading at <a href="https://coinmarketcap.com/currencies/internet-computer/" rel="noopener noreferrer nofollow">$10.34</a>, with a 24-hour trading volume of $176,905,810 USD. Despite a 4.04% decline in the last 24 hours, ICP holds the 24th position on CoinMarketCap, with a market cap of $4,803,951,924 and a circulating supply of 464,602,002 ICP coins.</p>
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   <p lang="en" dir="ltr">Huge milestone alert! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/ICP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ICP</a> has surpassed 2.5 million Internet Identities <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f92f.png" alt="🤯" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Explore further here: <a href="https://t.co/In8g9JWhzc" rel="noopener noreferrer nofollow">https://t.co/In8g9JWhzc</a> <a href="https://t.co/edYyQfuW8X" rel="noopener noreferrer nofollow">pic.twitter.com/edYyQfuW8X</a></p>— DFINITY (@dfinity) <a href="https://twitter.com/dfinity/status/1800603715772272928?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 11, 2024</a>
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<p><a href="https://feed.bithumb.com/notice/1644851" rel="noopener noreferrer nofollow">Bithumb’s</a> announcement of the ICP Korean Won trading market launch aligns with the broader trend of Korean exchanges accelerating coin listings ahead of new regulatory frameworks. These regulations aim to enhance the security and transparency of the cryptocurrency market, reflecting South Korea’s proactive stance in safeguarding investor interests and curbing illegal market activities.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/whale-makes-a-splash-over-35m-xrp-swiftly-transferred-to-bithumb/" rel="noopener noreferrer nofollow">Whale Makes a Splash: Over 35M XRP Swiftly Transferred to Bithumb</a></li>
 <li><a href="https://cryptonewsland.com/seoul-prosecutors-issue-arrest-warrant-for-kang-jong-hyeon-report/" rel="noopener noreferrer nofollow">Seoul Prosecutors Issue Arrest Warrant for Kang Jong-hyeon: Report</a></li>
 <li><a href="https://cryptonewsland.com/internet-computer-icp-price-prediction-2022/" rel="noopener noreferrer nofollow">Internet Computer (ICP) Price Prediction 2022: Is $30 EOY Price Possible?</a></li>
 <li><a href="https://cryptonewsland.com/vp-of-bithumb-linked-company-found-dead-in-seoul-report/" rel="noopener noreferrer nofollow">VP of Bithumb-Linked Company Found Dead in Seoul: Report</a></li>
 <li><a href="https://cryptonewsland.com/internet-computer-icp-price-prediction/" rel="noopener noreferrer nofollow">Internet Computer (ICP) Price Prediction 2023 to 2031: Will ICP Price hit $20 Soon?</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/bithumb-announces-launch-of-icp-korean-won-trading-market-amid-regulatory-changes/" rel="noopener noreferrer nofollow">Bithumb Announces Launch of ICP Korean Won Trading Market Amid Regulatory Changes</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bithumb Announces Launch of ICP Korean Won Trading Market Amid Regulatory Changes

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