There are several cryptocurrency businesses which are being executed currently in the market. According to some unconfirmed reports, an investor from South Korea is eying to buy Bitstamp at a sum of around $400 million. This news was confirmed by Nathaniel Popper, a leading New York Times tech and finance journalist on Twitter.
Nathaniel Popper noted that several sources which are closely related to the matter have confirmed that Bitstamp, which is one of the oldest exchanges in the market, may soon be sold to an investor from South Korea. Currently Bitstamp occupies position 12 ahead of other exchanges in terms of trading volume. The exchange is currently managing $173.4 million in volume which comprise of ETH/USD, BTC/EUR and BTC/USD. These are the highest traded pairs comprising of 80% of the exchange’s total trading volume.
The exchange is currently based in Luxembourg and is guided by the company’s operational and financial legislations. If the romours about its sell are confirmed to be true and the exchange moves to South Korea, the legislation is different. This could potentially be harmful to many Bitstamp users.
After the tweet by Nathaniel Popper, many Twitter users started inquire from Bitstamp if the news was true or not. The company has remained economical on any information regarding the negotiations. This has made some of the investors who are working with the exchange even more worried.
Social media was also rife with the conversation but legislation in both countries. According to some users, the ownership of the exchange does not change the regulations of the exchange because of the fact that it is located in Luxembourg and not in South Korea. The ownership will not change the rules which govern the exchange.
This may be clear. What remains uncomfirmed however is whether the news of the exchange’s sale is true or not. Is Bitstamp working on selling its business to an investor from South Korea? If this is the case, will the exchange relocate its operations to South Korea or they will maintain their operations in Luxembourg? These are questions which many investors are seeking answers for.