South Korean crypto trading platform Bithumb plans to go public in the country, local media reports.
Samsung Securities, a company specializing in capital markets, has been chosen by Bithumb to organize its IPO and is already working on the preliminary tasks. Experts believe this will boost crypto adoption in South Korea.
South Korea's Internal Revenue Service required in 2019 Bithumb to pay $67M in taxes for the operations of its foreign clients.
Bithumb Holdings (formerly BTC Holding Company) currently controls 75% of the platform. The company already tried to go public back in 2019 after signing a memorandum of understanding (MOU) with Blockchain Industries, which is listed on the US OTC market, in order to make a reverse acquisition.
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