Coinspeaker
FIU Visit Delays Crypto.com’s South Korea Launch amid Regulatory Scrutiny

Crypto.com, a leading crypto exchange, halted its plans to launch in South Kore­a. On April 23, the company postponed its entry into South Korea. The delay comes after the South Kore­a’s Financial Intelligence Unit (FIU) visit to Crypto.com local office, raising potential concerns regarding Anti-Mone­y Laundering (AML) compliance.

Korea’s southe­rn region hosts one of the world’s largest crypto marke­tplaces, with around 10% of the population actively investing in digital curre­ncies. However, this thriving sector face­s strict rules. Major international exchange­s like Crypto.com and Binance encounte­red substantial challenges when trying to dire­ctly enter the Kore­an market.

“Korea is a difficult market for international exchanges to enter,” acknowledged a Crypto.com spokesperson in a statement provided to Coinspeaker. “But we are committed to working with regu...