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Crypto.com postpones South Korea entry. The company had acquired OK-BIT and PnLink for regulatory compliance. Despite the temporary halt, the company remains committed to navigating challenges to eventually enter the country. Crypto.com has decided to halt its plans to enter the South Korean market temporarily. The move comes as the company faces regulatory challenges in one of the world’s most vibrant cryptocurrency hubs. Crypto.com facing regulatory hurdles despite acquisitions Earlier this month, Crypto.com announced its plans to enter the South Korean market, to offer South Korean customers access to a wide range of cryptocurrencies and exclusive non-fungible token (NFT) projects. With South Korea being the 14th largest economy globally, the move was deemed as a strategic one. However, despite initial enthusiasm, Crypto.com encountered regulatory challenges that have forced it to put its South Korean expansion on hold. In a recent email, the ...

Singapore's Crypto.com expands its regulatory achievements by securing MPI license for DPT services from MAS. The Singapore-based cryptocurrency exchange, Crypto.com, announced on June 1 that it has been granted a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services by the Monetary Authority of Singapore (MAS).  The announcement comes after Crypto.com received its in-principle approval from MAS in June 2022. With the MPI licence, Crypto.com is now authorized to offer its DPT services to customers in Singapore. The Monetary Authority of Singapore serves as the central bank and primary financial regulatory authority in Singapore. It is responsible for overseeing and implementing legislation related to money, banking, insurance, securities, and the overall financial industry, including the issuance of currency. This latest announcement adds to Crypto.com's track record of securing regulatory license s. Crypto.com has also achieved registration as a Di...