Binance halts KRW pairs amid tightening crypto exchange regulations in Korea
The crypto exchange giant said the decision was part of efforts aimed at proactive compliance with regulatory demands. Binance has halted Korean won (KRW) trading pairs as part of a raft of changes to its operations in South Korea.In a notice issued on Friday, the crypto exchange giant announced the discontinuation of KRW trading pairs as well as KRW payment options on its service. Other features discontinued include Korean language support on its website and merchant applications for peer-to-peer transactions (P2P) in South Korea.As part of the announcement, Binance also advised P2P....
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Crypto exchange Binance has announced a discontinuation of South Korean Won trading pairs and language support. Crypto Exchange Binance Pulls Out Of South Korea As per an announcement on the firm’s website, the platform no longer offers support for certain South Korea-related services. These discontinued Binance services include South Korean Won (KRW) trading pairs, KRW […]
Less than a year after its launch, Binance Korea is closing its doors amid shrinking liquidity. Binance KR has decided to shutter its operations in South Korea according to an announcement released on Thursday. As part of the press statement, Binance KR attributed the move to declining liquidity and low trading volume of its BKRW trading pairs. BKRW is a stablecoin pegged 1:1 to the Korean Won used for crypto-to-crypto settlements on the platform.According to the details provided by Binance KR, the shutdown timeline will begin with ceasing all new account registrations on Thursday. The....
On August 13, the cryptocurrency exchange Binance revealed it is ending a great number of services in South Korea. The company noted in the announcement that it evaluated local regulations and “will discontinue the following offerings in Korea, effective immediately.” Binance Ends Korean Crypto Services Last week, former CEO of Binance US and former acting Comptroller of the Currency, Brian Brooks, announced that he was leaving his position at the exchange. Prior to that HSBC suspended payments tied to Binance and the company also discontinued derivatives products in Hong Kong.....
Upbit is one of South Korea’s largest cryptocurrency exchanges alongside Bithumb, Coinone and Korbit — who are collectively referred to as “The Big Four.” Major South Korean cryptocurrency company Upbit has reportedly submitted a business report with the Korean Financial Intelligence Unit (FIU).Upbit reported its digital asset business to the FIU, which operates under South Korea’s top financial regulator, the Financial Services Commission (FSC). Upbit’s operator, Dunamu, announced the news on Friday, The Korea Economic Daily reported.Upbit is one of South Korea’s largest cryptocurrency....
Binance has reportedly halted services in Israel after the cryptocurrency exchange was approached by the country’s financial regulator inquiring about its activities and the licenses under which it operates. A growing number of regulators have been scrutinizing Binance for operating without a license in their jurisdictions.
Binance Halts Crypto Services in Israel
Israel’s Capital Market, Insurance, and Savings Authority has reportedly approached Binance regarding the crypto exchange’s activities in the country.
The authority, which is responsible....