South Korean Crypto Exchange Bithumb Bans Employees from Trading Bitcoin
Bithumb, one of the largest South Korean cryptocurrency exchanges, in terms of trade volume, has announced that employees are banned from trading bitcoin on the exchange platform. This decision of the company’s chief executive officer, is to focused on improving “transaction transparency.”
Bithumb Bans Employee Bitcoin Trading – Will Monitor for Individuals Who Don’t Comply
The cryptocurrency trading platform Bithumb has revealed that employees are now restricted from leveraging the exchange. This means that Bithumb employees can no longer obtain an internal account on the South Korean cryptocurrency exchange.
Bithumb’s chief executive officer wrote in the newsletter that the move is focused on improving “transaction transparency.” Additionally, leaking undisclosed information and participating in unfair trade practices and market price manipulation is also prohibited in order to “ensure transparent operation.”
The South Korean cryptocurrency exchange further says that “Bithumb is continuously strengthening compliance management and internal control by providing training to acquire the International Standard Compliance Management System certification.”
According to the announcement, Bithumb’s management told employees in June that by July: “Bithumb trading accounts for investment purposes by employees” would be banned indefinitely.
Bithumb employees have taken an oath to withdraw last month and to stop leveraging the trading platform.
