The cryptocurrency exchange Bitstamp will soon be sold to Korean investors for $ 400 million.
For the first time about it it became known from Twitter technical journalist for the New York Times Nathaniel Popper:
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
From numerous sources I hear that one of the oldest cryptocurrency exchanges, Bitstamp, is in the final stages of sale to Korean investors for $ 400 million. Neither the buyers nor the sellers has not yet commented on this event.
Bitstamp is registered in Luxembourg, and was founded in 2011, it currently occupies the 11th place on the daily trading volume (approximately of 182, 4 million USD).
Some of the users of the exchange I think this is not a very good step, as they believe that the exchange should move in South Korea’s jurisdiction:
@Bitstamp @SupportBitstamp – is it true that you sold to the South Koreans? If so, I, unfortunately, will be forced to move to another exchange.
However, as noted by other users of Twitter, change of ownership does not mean a change of jurisdiction:
Jurisdiction does not change, it is a European company licensed in Luxembourg … for example … nothing will change, unless the new owners decide to opt out from their European offices, licenses, Bank contracts… but then, why buy it?
Ownership doesn’t change it is an European company licensed in Luxembourg… like nothing changes… just the owner or the stock afterwards unless they decide to ditch their European offices, license, banking relationships, and do a 180 at which point… why buy it?— BitJohny (@bit_johny) March 23, 2018
Recall that although South Korea is one of the leading cryptocurrency markets the situation with the regulation there is not the most stable. Last year there was prohibited the holding of ICO and this year several times appeared rumors about a complete ban on cryptocurrencies in the country.