Bithumb Prohibits Internal Transactions by Executives to Enhance Trading Transparency

[Asia Economy Reporter Gong Byung-sun] South Korea's cryptocurrency exchange Bithumb announced on the 2nd that it will completely ban internal trading through Bithumb accounts of executives, employees, and the company to enhance transaction transparency.

According to Bithumb, it had previously restricted employee trading through measures such as prohibiting trading during working hours, banning trading under borrowed names, and forbidding trading of listed cryptocurrencies within 72 hours. Additionally, policies were implemented to prevent unfair trading, including prohibiting the disclosure of undisclosed information, banning fraudulent trading activities, and preventing market manipulation.

Bithumb has strengthened internal regulations for more rigorous measures. It also collected pledges from employees and completed actions such as account withdrawal last month. Starting this month, it plans to strictly manage whether employees engage in internal trading through continuous monitoring, internal audits, and an internal reporting system.

A Bithumb official stated, “We will completely prohibit any internal trading activities by the business operator and employees,” adding, “Bithumb will comply with relevant laws in all areas including exchange operations to establish itself as an industry-leading company.”

This content was produced with the assistance of AI translation services.