Crypto.com delays South Korea launch amid regulatory hurdles
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 ...