<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Crypto.com has put its foray into the South Korean market on hold due to regulatory issues, according to a recent&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-04-23/crypto-com-postpones-expansion-into-south-korea-retail-market?utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_medium=social&amp;utm_content=crypto">report</a> by Bloomberg.
In its recent email, the company noted that it is challenging for foreign exchanges to break into South Korea. At the same time, it has stressed that it remains committed to cooperating with local regulatory authorities.&nbsp;
The company initially announced the launch of its app in South Korea earlier this month. It said that its South Korean customers would be able to gain access to more than 150 cryptocurrencies as well as some exclusive non-fungible token (NFT) projects.&nbsp;
Crypto.com said that South Korea, the 14th largest economy in the world, is "a market of tremendous importance."&nbsp;&nbsp;
As <a href="https://u.today/crypto-traders-now-prefer-south-korean-won-over-dollar">reported by U.Today</a>, the South Korean won recently surpassed the U.S. dollar in crypto trading volumes due to the massive popularity of altcoins in the country. Meanwhile, South Korean exchanges are in the middle of a fee war, with Upbit, the leading local exchange, facing stiff competition from the likes of Bithumb and Upbit.
Meanwhile, South Korea's political parties were trying to court crypto-friendly voters ahead of the legislative elections that were held in April. This shows the growing importance of the crypto sector in the country. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Back in August 2022, the cryptocurrency giant announced the acquisition of two South Korean cryptocurrency firms (OK-BIT and PnLink). These deals made it possible for Crypto.com to secure important regulatory licenses in the country.&nbsp;

Crypto.com Halts Its Launch in South Korea: Details

U_Today

2024年4月23日公開の他の記事

Cardano (ADA)’s Smart Contract Boom: Is ADA Heading to $5?

MANTA Price Prediction as MANTA Eyes $5 …How High Will MANTA Price Go?

Why is the Bitcoin Price Down? BTC Price might drop below $50,000 if THIS Happens!

The Upcoming Crypto Super Thursday 2024: A Day of Launches, Rewards, and Excitement

Venezuela Accelerates Shift to Tether (USDT) Amidst Tightening US Sanctions

President Biden Signs ‘Terrifying’ Bill Giving U.S Agencies More Spying Power

ニュースレターを購読して暗号資産の最新情報を毎日入手！