Korean Cripto Stock numbers drop 26% due to vague regulations, Access Bank: Report

The shutter wave hit the South Korean CRIPTO exchange, with smaller companies that go on the market as regulatory compliance and banking access remain obstacles.

South KoreaThe Cripto Exchange Market is all smaller, because new government data show that the number of registered virtual property providers fell from last year.

Report 7. February of the Financial Integration Unit is discovered that there are 31 registered crypts for the crypts trading in South Korea, and then more than 26% from 42 last year, South Korean List Dailian reports.

Fasted companies include GDAC, Probit, Huoby Korea and Bitrads, among others. The report says that most exchanges left the Korean market were only platforms only without support from Fiat, which faced difficulties they resided in business.

In addition to business barriers, many platforms failed to renew their registrations, which leads to their exclusion from the register of the nation, report notes.

Exchange only tokens, which do not have in the actual name Bank accountsThey’ve been in trouble for some time. Without Fiat trading options such as US dollars or Korean victory, these platforms are struggling to attract users. FIU report says: “Over 90% of these exchanges was in a state of total capital erosion last year.” Many of these exchanges, including cubit and coinbit, eventually turn off.

The report also warns that the number of crypto exchange in South Korea can further fall, because some companies are still on the list already announced plans to go out, while others transfer their focus abroad abroad abroad.