DeFi Daily News
Tuesday, June 3, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Cryptocurrency Altcoins

rewrite this title KuCoin Eyes South Korea Comeback After Regulatory Setback

Jared Kirui by Jared Kirui
May 2, 2025
in Altcoins
0 0
0
rewrite this title KuCoin Eyes South Korea Comeback After Regulatory Setback
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

Despite being pushed out of the South Korean market
earlier this year, crypto exchange KuCoin isn’t ready to give up on the
region. The platform’s newly appointed CEO, BC Wong, has made it clear that a return is not only possible but planned, though only after a broader global compliance effort takes shape, Cointelegraph reported.

Regulators Target Unregistered Crypto
Platforms

In March and April, South Korean authorities tightened
their grip on crypto trading by ordering Google and Apple to block unregistered
exchanges. KuCoin was among the casualties, effectively shutting out its
services from local users.

However, the company has not formally exited the South Korean market. Instead, it is waiting for the right time and legal standing to return.

Wong raised concerns that some regulators may use
compliance frameworks not just to protect consumers, but to shield local
exchanges from global competition. The latest development suggests that KuCoin sees more than just a
legal barrier; it sees a competitive strategy playing out in the guise of
regulation.

European Entry Also Comes With Friction

In Europe, KuCoin has also faced challenges, despite
the promise of uniform rules under the Markets in Crypto-Assets Regulation
(MiCA). Oliver Stauber, the exchange’s EU CEO, noted that while MiCA was
designed to simplify cross-border operations, reality doesn’t always match
theory.

Stauber added that some local authorities in the EU
claim certain licenses are wrongly assessed, throwing up barriers that were
supposed to have been eliminated by the regulation’s passporting mechanism.

In 2022, the South Korean authorities cracked down on
overseas cryptocurrency exchanges, alleging that 16 such platforms operate in
the country without authorization.

Among the affected firms were KuCoin and MEXC, which,
according to the Korea Financial Intelligence Unit, have allegedly violated the
peninsula’s Financial Information Act. The regulators mentioned that the firms offered
cryptocurrency exchange services in the region but did not meet any
requirements or obligations.

Cryptocurrency exchange KuCoin appointed BC Wong as its new Chief Executive Officer earlier this year and launched trading for the Official Trump (TRUMP) token on its spot trading platform. BC Wong, previously serving as Chief Legal Officer, steps into the CEO role, bringing extensive cryptocurrency industry experience and legal expertise.

Despite being pushed out of the South Korean market
earlier this year, crypto exchange KuCoin isn’t ready to give up on the
region. The platform’s newly appointed CEO, BC Wong, has made it clear that a return is not only possible but planned, though only after a broader global compliance effort takes shape, Cointelegraph reported.

Regulators Target Unregistered Crypto
Platforms

In March and April, South Korean authorities tightened
their grip on crypto trading by ordering Google and Apple to block unregistered
exchanges. KuCoin was among the casualties, effectively shutting out its
services from local users.

However, the company has not formally exited the South Korean market. Instead, it is waiting for the right time and legal standing to return.

Wong raised concerns that some regulators may use
compliance frameworks not just to protect consumers, but to shield local
exchanges from global competition. The latest development suggests that KuCoin sees more than just a
legal barrier; it sees a competitive strategy playing out in the guise of
regulation.

European Entry Also Comes With Friction

In Europe, KuCoin has also faced challenges, despite
the promise of uniform rules under the Markets in Crypto-Assets Regulation
(MiCA). Oliver Stauber, the exchange’s EU CEO, noted that while MiCA was
designed to simplify cross-border operations, reality doesn’t always match
theory.

Stauber added that some local authorities in the EU
claim certain licenses are wrongly assessed, throwing up barriers that were
supposed to have been eliminated by the regulation’s passporting mechanism.

In 2022, the South Korean authorities cracked down on
overseas cryptocurrency exchanges, alleging that 16 such platforms operate in
the country without authorization.

Among the affected firms were KuCoin and MEXC, which,
according to the Korea Financial Intelligence Unit, have allegedly violated the
peninsula’s Financial Information Act. The regulators mentioned that the firms offered
cryptocurrency exchange services in the region but did not meet any
requirements or obligations.

Cryptocurrency exchange KuCoin appointed BC Wong as its new Chief Executive Officer earlier this year and launched trading for the Official Trump (TRUMP) token on its spot trading platform. BC Wong, previously serving as Chief Legal Officer, steps into the CEO role, bringing extensive cryptocurrency industry experience and legal expertise.

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: ComebackEyesKoreaKuCoinRegulatoryrewriteSetbackSouthtitle
ShareTweetShare
Previous Post

rewrite this title ‘The Walking Dead’ Ethereum NFT Game Is About to Be Killed Off – Decrypt

Next Post

rewrite this title UK Regulator Proposes Ban on Buying Crypto With Credit Cards – Decrypt

Next Post
rewrite this title UK Regulator Proposes Ban on Buying Crypto With Credit Cards – Decrypt

rewrite this title UK Regulator Proposes Ban on Buying Crypto With Credit Cards - Decrypt

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title Haliey Welch Breaks Silence on Hawk Tuah Coin Collapse

rewrite this title Haliey Welch Breaks Silence on Hawk Tuah Coin Collapse

May 6, 2025
Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

August 13, 2024
rewrite this title What Are Energy-Efficient Windows? Cost, Certification and How to Choose – NerdWallet

rewrite this title What Are Energy-Efficient Windows? Cost, Certification and How to Choose – NerdWallet

April 1, 2025
Tech companies are interested in nuclear power, but some utilities are blocking their progress.

Tech companies are interested in nuclear power, but some utilities are blocking their progress.

August 10, 2024
rewrite this title with good SEO Viral Success Locked Amid $FAT Crypto Breakout: Is $FAT Hottest Meme Coin in April?

rewrite this title with good SEO Viral Success Locked Amid $FAT Crypto Breakout: Is $FAT Hottest Meme Coin in April?

April 17, 2025
rewrite this title with good SEO Michael Saylor Explains Why Microsoft Should Buy Bitcoin

rewrite this title with good SEO Michael Saylor Explains Why Microsoft Should Buy Bitcoin

May 6, 2025
rewrite this title Five factors driving a transfer market frenzy this summer

rewrite this title Five factors driving a transfer market frenzy this summer

June 3, 2025
rewrite this title Norway’s NBX Joins Bitcoin Treasury Trend, Stock Jumps 138%

rewrite this title Norway’s NBX Joins Bitcoin Treasury Trend, Stock Jumps 138%

June 3, 2025
rewrite this title Ethereum Foundation Restructures R&D Division, Plans ‘Rethink’ on Design and Development – Decrypt

rewrite this title Ethereum Foundation Restructures R&D Division, Plans ‘Rethink’ on Design and Development – Decrypt

June 3, 2025
rewrite this title Analyst Suggests Altcoin Recovery May Follow Bitcoin’s Final Cycle Stage—Here’s Why

rewrite this title Analyst Suggests Altcoin Recovery May Follow Bitcoin’s Final Cycle Stage—Here’s Why

June 2, 2025
rewrite this title ‘A grimy, gothic treat’: Netflix has a new crime procedural show with 81% on Rotten Tomatoes

rewrite this title ‘A grimy, gothic treat’: Netflix has a new crime procedural show with 81% on Rotten Tomatoes

June 2, 2025
rewrite this title Michael Saylor’s Strategy Plans Stock IPO to Fund Bitcoin Buys, Operations – Decrypt

rewrite this title Michael Saylor’s Strategy Plans Stock IPO to Fund Bitcoin Buys, Operations – Decrypt

June 2, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.