KuCoin to reenter South Korea after securing key markets: CEO

By: cryptosheadlines|2025/05/02 12:45:01
0
Share
copy
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.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 AcrossRegulators drive global players away from local marketsWong 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 global kind of players to be out from their market, and pave the road for their domestic exchange,” Wong added. Related: Kraken tells how it spotted North Korean hacker in job interviewKuCoin’s EU CEO shares regulatory challenges in EuropeOliver Stauber, who joined KuCoin as its European Union CEO, told Cointelegraph that there are also difficulties operating in the EU, even with the bloc’s Markets in Crypto-Assets Regulation (MiCA) in place. Stauber, who previously worked as the chief legal officer of Bitpanda, told Cointelegraph that while MiCA licenses have a passporting feature, which should allow license holders to provide services across the EU, the executive said that some jurisdictions interpret the laws differently. Stauber said that some jurisdictions may say that licenses were “wrongly assessed,” which gets in the way of operating in some jurisdictions. “MiCA was said to have a level playing field in crypto all over Europe. However, as long as there are players who are not playing by the books, you know it’s getting quite messy and difficult,” Stauber told Cointelegraph. Magazine: Pokémon on Sui rumors, Polymarket bets on Filipino Pope: Asia ExpressSource link

-- Price

--

You may also like

Semiconductor stocks plummet, yet Anthropic wants to create a 2nm chip

Abandoning TSMC and teaming up with Samsung. Anthropic launches a self-developed 2nm chip program, challenging Nvidia and starting a battle to break through computing power costs.

Where is Zhao Changpeng's billion-dollar investment going? YZi Labs' investment landscape fully revealed

Zhao Changpeng's billion-dollar new "family office" YZi Labs investment landscape revealed: 70% of the funds are committed to the crypto ecosystem, while 30% are cross-industry bets on AI and biotechnology, launching a new capital experiment in the post-Binance era.

Ethereum Foundation Report: A Basic Guide to Ethereum for Governments and Financial Institutions

The Ethereum Foundation has released this non-technical introductory report aimed at government officials, central banks, regulators, and corporate decision-makers, explaining how Ethereum works, how it is governed, how it differs from other blockchains, and how institutions and governments are alre...

A pre-announced harvesting case: After the cryptocurrency price dropped by 99%, the public chain Saga exited to transform into AI

True failure often isn't a single price drop, but rather a pricing mechanism that repeatedly rewards those who tell stories while repeatedly punishing those who believe in the stories.

When American giants collectively "defect" from Chinese AI models

Coinbase CEO publicly stated: the company has fully switched its AI to a Chinese model, cutting expenses in half while usage has doubled. Snowflake and Lindy are also doing the same thing—an unnoticed "AI model migration wave" is happening.

BIS Report Compliance Observation: The Real Risks of Stablecoins, Not Just "Depegging"

The issue with stablecoins is not just whether their price will decouple, but whether they can be integrated into a recognizable, monitorable, accountable, and regulated financial system.

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com