Bithumb Establishes Investor Protection Committee and Internal Control Committee... "Strengthening Investor Protection Measures"

[Asia Economy Reporter Gong Byung-sun] Bithumb, a domestic cryptocurrency exchange, announced on the 17th that it will establish an Investor Protection Committee and an Internal Control Committee to create a sustainable cryptocurrency ecosystem and enhance management transparency.

The Investor Protection Committee is an organization that promptly addresses illegal activities related to the operation of cryptocurrency exchanges and deliberates and resolves matters related to investor protection. The committee will monitor misconduct related to cryptocurrency listings, violations of the Act on Reporting and Using Specified Financial Transaction Information, and will also manage and supervise compliance activities to ensure the transparency and sustainability of the exchange.

External personnel from the financial industry, academia, legal and accounting fields, and civic groups will form the core of the Investor Protection Committee. One co-chairperson will be selected by lottery, and Bithumb CEO Heo Baek-young will be elected as the other. Bithumb’s head of legal affairs and compliance officer will also participate as members to assist in understanding internal procedures.

An Internal Control Committee, an internal decision-making body to strengthen employees’ compliance awareness, will also be established. The Internal Control Committee was launched to establish an internal control decision-making system comparable to that of financial companies. Through this committee, Bithumb plans to thoroughly prevent illegal activities related to cryptocurrency exchange operations and continuously strengthen investor protection measures.

A Bithumb official stated, “The Investor Protection Committee and Internal Control Committee are part of efforts to establish an internal control system comparable to that of the traditional financial sector,” adding, “Bithumb will continue to strive for transparency in the cryptocurrency industry and investor protection.”

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