KuCoin to reenter South Korea after securing key markets: CEO
The post KuCoin to reenter South Korea after securing key markets: CEO appeared on BitcoinEthereumNews.com. Crypto exchange KuCoin said that it may reenter South Korea after its platform was blocked in the country. On March 21, South Korean regulators ordered Google Play to block access to exchanges that were not compliant with the requirements needed to operate in the country. On April 11, South Korea’s Financial Services Commission (FSC) ordered the Apple Store to block unregistered crypto exchanges. KuCoin was among those affected by the country’s crackdown on unregistered platforms that were previously available. While the platform is now unavailable to South Koreans, it has not fully abandoned the jurisdiction. In an exclusive interview with Cointelegraph, KuCoin’s newly appointed CEO, BC Wong, said that the crypto exchange has plans to reenter the country. Wong (left), KuCoin EU CEO Oliver Stauber (middle) and Cointelegraph reporter Ezra Reguerra (right) at the Token2049 event in Dubai. Source: Market Across Regulators drive global players away from local markets Wong told Cointelegraph that before the exchange can reenter South Korea, it plans to secure compliance with major jurisdictions first. He said: “The resource is there. We need to go one by one. Our strategy will always be that major jurisdictions come first, which means the United States, EU, China, India, and maybe after that, Australia.” Wong confirmed to Cointelegraph that KuCoin representatives had started speaking with regulators. The executive said that operating in crypto is very similar to traditional financial markets, where there’s a need for a clear background in each jurisdiction. The KuCoin CEO also said that regulators are stricter compared to three years ago. He said that this could be a move to drive global players away from local crypto markets. “I’m not so sure that if the regulators’ intention is to regulate the global market or just simply, they want to pave the way to get all…
The post KuCoin to reenter South Korea after securing key markets: CEO appeared on BitcoinEthereumNews.com.
Crypto exchange KuCoin said that it may reenter South Korea after its platform was blocked in the country. On March 21, South Korean regulators ordered Google Play to block access to exchanges that were not compliant with the requirements needed to operate in the country. On April 11, South Korea’s Financial Services Commission (FSC) ordered the Apple Store to block unregistered crypto exchanges. KuCoin was among those affected by the country’s crackdown on unregistered platforms that were previously available. While the platform is now unavailable to South Koreans, it has not fully abandoned the jurisdiction. In an exclusive interview with Cointelegraph, KuCoin’s newly appointed CEO, BC Wong, said that the crypto exchange has plans to reenter the country. Wong (left), KuCoin EU CEO Oliver Stauber (middle) and Cointelegraph reporter Ezra Reguerra (right) at the Token2049 event in Dubai. Source: Market Across Regulators drive global players away from local markets Wong told Cointelegraph that before the exchange can reenter South Korea, it plans to secure compliance with major jurisdictions first. He said: “The resource is there. We need to go one by one. Our strategy will always be that major jurisdictions come first, which means the United States, EU, China, India, and maybe after that, Australia.” Wong confirmed to Cointelegraph that KuCoin representatives had started speaking with regulators. The executive said that operating in crypto is very similar to traditional financial markets, where there’s a need for a clear background in each jurisdiction. The KuCoin CEO also said that regulators are stricter compared to three years ago. He said that this could be a move to drive global players away from local crypto markets. “I’m not so sure that if the regulators’ intention is to regulate the global market or just simply, they want to pave the way to get all…
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