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South Korea Regulator Delays Approval of Leadership Change for Crypto.com’s Local Unit
South Korea’s Financial Intelligence Unit is delaying approval of a change in leadership at the local unit of the popular exchange Crypto.com. The delay is likely to cause problems for Crypto.com as it prepares to fully launch operations in South Korea.
Earlier this month, Crypto.com announced a launch in the South Korean market, planned for April 29. The plan is for Crypto.com to replace OK-BIT, a local crypto exchange Crypto.com acquired back in 2022.
South Korea Yet to Approve Crypto.com Leadership
According to a report from local news platform Bizwatch, Foris DAX Korea Ltd, the operator of OK-BIT, effected a change in leadership on January 25, to Crypto.com President and COO Eric Anziani, from co-founder and CFO Rafael Melo. South Korea’s Specific Financial Information Act requires cryptocurrency businesses to report these changes to the FIU within 30 days. Thi
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