Bithumb Delays IPO Timeline to 2028 Amid Ongoing Regulatory Challenges

Bithumb, South Korea's major cryptocurrency exchange, has announced a delay in its initial public offering (IPO) timeline to 2028. The decision comes after the exchange encountered regulatory challenges that have hindered its preparation for listing.

The IPO was initially planned for 2025 but will now take place sometime after 2028, according to Maeil Business News Korea. Bithumb's Chief Financial Officer (CFO), Jeong Sang-gyun, stated at the company's annual meeting that the exchange would focus on preparing for the listing until 2027.

The delay is attributed to ongoing work in strengthening accounting policies and internal controls, which the exchange is working with advisory firm Samjong KPMG to implement. This effort is part of Bithumb's overall strategy to improve its operational and financial infrastructure.