South Korean crypto exchange Bithumb will launch a new committee in September that will determine which cryptocurrencies can be traded on its platform.
A monthly check by experts
South Korean news daily Yonhap News reported the formation of Bithumb’s new committee on Aug. 22. The committee, entitled the Listing Eligibility Deliberation Committee, will review the exchange’s listings once a month, per the report.
The committee will reportedly take into consideration daily trading volume, change in base market capitalization and project support among other factors. Cryptocurrencies that fail to meet the committee’s standards will have two months to improve their status before being delisted.
According to the report, Bithumb’s committee will also consist of lawyers and professors, in an effort to bring legal, technical and fintech experts on board to review the exchange’s listing process. A spokesperson for the exchange remarked:
"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."
Singapore exchange changes name to Bithumb Singapore
As previously reported by Cointelegraph, the Singapore-based crypto exchange formerly known as Bitholic has changed its name to Bithumb Singapore. At press time, attempting to navigate to https://www.bitholic.com will redirect to the URL www.bithumbsg.com. The website also now contains a notice about the exchange’s name change, which explains:
“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).”