TechFlow news, according to The Block, cryptocurrency exchange platform Crypto.com plans to launch its local trading platform in South Korea on April 29, filling the position of local licensed crypto exchange OK-BIT, which is gradually phasing out its services.
However, South Korea's Financial Intelligence Unit has delayed approval for the leadership transition of this entity.
Crypto.com internally completed the leadership change of its South Korean subsidiary Foris DAX Korea Limited on January 25. Since OK-BIT's operating license will expire in November this year, Crypto.com needs to meet stricter local compliance requirements.
In addition, cryptocurrency exchange Binance has encountered similar issues, having acquired a majority stake in local exchange Gopax last year.
