The Block Crypto News15 minutes ago

Published on April 23, 2024 09:57 GMT+00:00edited on April 23, 2024 10:01 GMT+00:00

Global cryptocurrency exchange Crypto.com said Tuesday that it will postpone its launch in South Korea to communicate further with local regulators. It did not disclose a new launch date.

“We will postpone our launch and take this opportunity to make sure Korean regulators understand our thorough policies, procedures, systems and controls,” a Crypto.com spokesperson told The Block. “Korea is a difficult market for international exchanges to enter, but we are committed to working with regulators to advance the industry responsibly for Koreans.”

The announcement follows a local report from Segye Ilbo that South Korea’s Financial Intelligence Unit visited Crypto.com’s local office on Tuesday after the regulator found concerning matters in the company’s submitted documents related to …