Crypto.com, a global crypto exchange, recently postponed its much-anticipated retail market expansion in South Korea, originally scheduled for April 29.
This strategic decision came just six days before the planned launch, and according to the report, this delay is due to the company’s need for more comprehensive engagement with local regulatory bodies.
Regulatory Hurdles And Strategic Responses
Notably, the report suggests that the delay allows Crypto.com to further “refine its approach” and ensure its operations align with South Korea’s regulations, particularly concerning anti-money laundering efforts.
According to a company statement, this period will be used to “enhance” Korean regulators’ understanding of the exchange’s policies, systems, and controls designed to build a responsible and secure trading environment.
The company particularly noted:
Korea is a difficult market for international exchanges to enter, but we are committed to working with reg
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