Bithumb Charts Course for 2028 Stock Market Debut

South Korean cryptocurrency exchange Bithumb has set out a three-stage roadmap to list on the stock market by 2028, despite facing regulatory challenges and legal scrutiny. The exchange will focus on internal controls and preparation for the global K-IFRS accounting standard in 2026, followed by a preliminary listing review in 2027.

Bithumb has been fined $24.5 million by financial regulators over anti-money-laundering and know-your-customer failures, while its CEO was booked as a bribery suspect in June. The exchange claims it is rebuilding risk management to meet regulatory standards, strengthening compliance monitoring, and separating business lines to remove conflicts of interest.

Bithumb has also promised regular disclosure of finances and its own cryptocurrency holdings. However, the notice does not mention the recent legal and regulatory issues faced by the exchange, including a display error that credited thousands of users with Bitcoin they did not own.