There are different cryptocurrency businesses going on right now in the crypto market. According to some reports Bitstamp could be sold to investors from South Korea for about $400 million dollars. Nathaniel Popper, an important New York Times finance and tech journalist, confirmed it in Twitter.
Bitstamp Sold
Nathaniel Popper informed that several sources related to the matter can confirm that one of the oldest exchanges in the market, Bitstamp, could soon be sold to South Korean investors.
Along with all the other news about virtual currency exchanges, I've heard from numerous sources that one of the oldest exchanges, Bitstamp, is in the final stages of being sold to South Korean investors for ~$400m. Neither the exchange nor the buyers are commenting.
— Nathaniel Popper (@nathanielpopper) March 22, 2018
At the moment of writing this article, Bitstamp is the 12th cryptocurrency exchange by trading volume. It is currently managing $173.4 million dollars’ volume being BTC/USD, BTC/EUR and ETH/USD the most traded pairs with an 80% of the total trading volume of the exchange.
The exchange is now based in Luxembourg and follows the country’s legislation. If the rumours are confirmed and the exchange is settled in South Korea, the legislation differs, something that could be potentially harmful for Bitstamp users.
Some Twitter users started to ask to Bitstamp whether these rumours where true or not. The company did not give any explanations about the negotiations as of right now. That is making worried some investors that work with the cryptocurrency exchange.
“Is it try that you are selling your company to Korea? If so I would need to take my business else where unfortunately,” wrote a Twitter user.
And the debate about the legislation started to take place in social networks. Some other users explained that the ownership does not change the regulations of the crypto exchange due to the fact that it is based in Luxembourg and not in South Korea. The ownership will not modify the rules that apply to the exchange.
Ownership doesn’t change it is an European company licensed in Luxembourg… like… nothing changes just the owner or the stock unless they decide afterwards to ditch their European offices, license, banking relationships, and do a 180 at which point… why buy it?
— BitHeika (@BitHeika) March 23, 2018
That’s clear. What it is still in doubts is whether these are just rumours or reality. Is Bitstamp planning to sell the business to South Korean investors? If yes, will the cryptocurrency exchange move its operations to the Asian country or they will keep operating in Luxembourg?
