Bithumb is a cryptocurrency exchange platform. The South Korean-based platform is also known as a leading exchange for ether, the currency of Ethereum (which in itself is immensely popular in the country).
Bithumb is operated by a company called BTC Korea.com Co. Ltd.
Experts noted that the belief that Russians could use cryptocurrencies to dodge sanctions may be false as the spike in the price of Bitcoin cannot be attributed to Russians buying more cryptos.
In recent measures to comply with the regulatory oversight, Bithumb has banned its employees from engaging with any crypto trading activity on the platform. The policy which aims to curb unfair trade practices and market manipulation is already under implementation.
