The post KuCoin Plans South Korea Comeback After Boosting Global Compliance appeared on BitcoinEthereumNews.com.

KuCoin plans South Korea comeback after meeting key global regulations. South Korea bans 22 crypto apps, including KuCoin, over compliance. KuCoin, a well-known cryptocurrency exchange, is considering a return to the South Korean market. KuCoin implemented this update because it successfully satisfied compliance rules across different key regions that include the United States and European Union as well as China and India. The company started preliminary talks with South Korean regulators to work on their future strategy. South Korea Pushes Out Unregistered Crypto Exchanges During the first months of 2022, South Korea implemented firm measures to target unidentified crypto trading platforms. The Financial Services Commission of South Korea forced Google and Apple to deactivate apps during March and April that were not registered with government authorities. KuCoin became one of the platforms which local app stores removed from their platforms because of these regulatory actions. The authorities undertook this action within their larger strategy to carry out domestic cryptocurrency legislation and safeguard user protection from unrestricted cryptocurrency exchanges. CEO BC Wong stated that KuCoin plans to reenter South Korea although the company faced a recent setback there. At the Token2049 event in Dubai, Wong appeared to declare the company maintains its dedication to entering and operate within the Korean market. The company plans to return to South Korea only after satisfying complete regulatory requirements from prominent jurisdictions. According to Wong, the exchange has adopted an organized operation method. The exchange intends to demonstrate a solid performance in other territories before reclaiming its presence in South Korea. The company uses this approach due to its parallel with main finance by achieving key marketplace regulatory clearance for business expansion. According to Wong South Korean regulations might exist to permit local companies to gain an advantage over foreign competitors. During this period, KuCoin…

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Filed under: News - @ May 3, 2025 10:10 pm