Kucoin Eyes, the return of South Korea after the organizational setback – Tradingview News

Despite the exit from the South Korean market earlier this year, Crypto Exchang Kucoin is not ready to give up the region. BC WNG, BC WONG, explained that the return is not only possible, but is planned, although after only a wider global compliance effort, Cointelegraph said.

Organizers target unregistered encryption platforms

In March and April, the South Korean authorities have tightened their grip on encryption trading through Google and Apple’s request to prevent unregistered exchanges. Kucoin was among the victims, as it effectively closed its services from local users.

However, the company has not officially left the South Korea market. Instead, it awaits the appropriate time and legal status to return.

Wong raised concerns that some organizers may use compliance frameworks not only to protect consumers, but to protect local exchanges from global competition. The latest development indicates that Cocoin sees more than just a legal barrier; You see a competitive strategy that plays in the guise of the organization.

European entry also comes with friction

In Europe, Kucoin also faced challenges, despite the promise of unified bases under markets to regulate encrypted assets (MICA). Oliver Stop, CEO of the European Union of the Stock Exchange, noted that while Mika is designed to simplify the cross -border operations, the reality does not always coincide with a theory.

Stauber added that some local authorities in the European Union claim that some licenses are incorrectly evaluated, which led to the threats of the barriers that were supposed to have been eliminated through the passport mechanism for the list.

In 2022, the South Korean authorities took them into the exchange of cryptocurrencies abroad, claiming that 16 platforms operate in the country without permission.

Among the affected companies Cocoin and Mexc, which, according to the Financial Intelligence Unit in Korea, was claimed to have violated the Financial Information Law on the peninsula. The organizers stated that the companies offered the services of cryptocurrency in the region, but they did not meet any requirements or obligations.

Cryptocurrency Exchang Kucoin BC Wong as its new executive president this year and launched trading of Trump’s official symbol (Trump) on the topical trading platform. BC Wong, who previously held the position of chief legal officials, in the role of the CEO, bringing extensive experience in the coded currency industry and legal expertise.