Crypto Exchange Bitfront Said to End Korean Services Ahead of Tough New Regul...
U.S.-based crypto trading platform Bitfront is going to discontinue services in South Korea before stricter rules for the industry are enforced in September, Korean media reported. The exchange, a subsidiary of Japanese tech giant Line, is currently available to Korean traders. Line’s Bitfront Exchange to Discontinue Services for Korean Cryptocurrency Traders With tighter regulations on the horizon, digital asset exchange Bitfront is reportedly joining those platforms that are planning to pull out of South Korea’s cryptocurrency market. The U.S.-registered entity, which was....
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Amid the looming regulatory deadline in South Korea, a major crypto exchange is closing up shop in the country. Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its services to South Korean users ahead of a licensing deadline.The exchange officially announced on Sept. 17 that it will discontinue Korean language support from its platforms as well as its official South Korean community on social media. The suspensions will take effect starting Sept. 20.“Bybit does not support any Korean won markets, such as won denominated trading pairs, payments or....
A South Korean cryptocurrency exchange announced it established its first legally recognized branch in China. Although the nation banned all local crypto trading services, DBX said the firm already obtained a license to go ahead with the operations. Final Certificate of Incorporation Granted on February 5 According to Money Today, DBX received the operating license to establish the subsidiary in China as part of its overseas expansion plans. The crypto exchange is affiliated with the Korea Blockchain Coordination Association. Per the details given by the exchange, the Chinese government....
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 […]
South Korean crypto exchange Gopax has told users if it can't resolve its banking difficulties before a looming regulatory deadline it will need to shut down. South Korean crypto exchange Gopax, which is backed by Digital Currency Group, is facing potential closure ahead of the country’s fast-approaching deadline for platforms to submit their requests for an official operating license.To be eligible for a license, all crypto exchanges must show evidence that they are operating using real-name accounts at South Korean banks. The catch is that domestic banks have, for the most part, refused....
Crypto trading platforms in South Korea are delisting certain digital currencies as they move to comply with stricter rules for the industry. The trading of some high-risk coins has been either halted or completely suspended on several Korean exchanges this week. South Korean Exchanges Wipe Trading Lists of Risky Digital Assets Trying to meet Seoul’s tougher new rules for the cryptocurrency sector, Korean exchanges are now purging their trading lists of high-risk assets. According to a report by Arirang, a number of crypto trading platforms have temporarily halted or ended the....