Crypto.com Postpones Expansion Into South Korea Retail Market
- Firm had announced plans to launch some services on April 29
- The company didn’t disclose a new South Korea launch date
Earlier this month, Crypto.com announced plans to launch some of its services in Korea on April 29 with its locally acquired platform OkBIT.
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Just six days before its planned retail expansion, the crypto exchange Crypto.com postponed its launch in South Korea so it can communicate further with regulators.
“Korea is a difficult market for international exchanges to enter, but we are committed to working with regulators to advance the industry responsibly for Koreans,” the firm said in an email statement on Tuesday. “We will postpone our launch and take this opportunity to make sure Korean regulators understand our thorough policies, procedures, systems and controls,” it added.