Crypto.com's launch in South Korea hits a snag following a visit by local regulators.
The Singapore-based exchange is postponing its expansion plans for South Korea, citing the need to communicate with regulators. The post Crypto .com postpones expansion plans for South Korea, talks with regulators appeared first on Crypto Briefing.
Crypto.com has put its foray into the South Korean market on hold due to regulatory issues, according to a recent report by Bloomberg.
The firm maintains the "highest" anti-money laundering standards in the industry, it said in a statement to CoinDesk.
Crypto.com previously obtained a domestic virtual asset business license (VASP) in South Korea after acquiring local crypto exchange OKBit.
Crypto.com says it is working with local regulators to join the South Korean market, which is difficult for international exchanges to enter.
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