KuCoin Eyes South Korea Comeback After Regulatory Block

By: financefeeds|2025/05/02 19:45:01

Cryptocurrency exchange KuCoin is considering a return to the South Korean market after local regulators forced its exit earlier this year, the company’s CEO confirmed in a recent interview. In March and April, South Korea’s Financial Services Commission ordered Google and Apple to block access to crypto platforms that had not registered with the government, effectively cutting off services like KuCoin . The move was part of a broader clampdown on unlicensed digital asset exchanges. Although the platform is currently unavailable in South Korea, KuCoin’s new CEO, BC Wong, says the exchange hasn’t given up on the region. Speaking at the Token2049 event in Dubai, Wong said KuCoin plans to reenter South Korea—but only after securing compliance in several major markets, including the U.S., EU, China, and India. Wong said KuCoin has already started talks with regulators and likened the process to traditional finance, where having a clean record in each jurisdiction is essential. He also argued about the motives behind some local regulations, suggesting that South Korean authorities may be trying to push foreign players out in favor of domestic exchanges. In Europe, KuCoin’s EU CEO Oliver Stauber highlighted other hurdles. While the EU’s new MiCA framework is meant to create a unified rulebook, Stauber said national regulators sometimes apply different interpretations of the same rules, slowing down operations even for licensed firms. “MiCA promises consistency, but reality on the ground doesn’t always reflect that,” Stauber said, adding that some countries still question previously granted licenses. The FIU said it was reviewing potential sanctions against foreign crypto operators that failed to report to authorities under South Korea’s Specified Financial Information Act. The law requires all virtual asset service providers (VASPs) to register with local regulators before serving Korean users. By March 26, the Financial Services Commission (FSC) released a list of 22 unregistered exchanges, confirming that 17 of them had already been blocked from Google’s app store. This restriction prevents new downloads and app updates, cutting off key access points for South Korean users. The blocked exchanges include major platforms such as KuCoin, MEXC, Phemex, XT.com, CoinEx, BitMart, DigiFinex, Poloniex, and Pionex, among others.

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.

Portugal 2-1 Croatia: Ronaldo's 20-Year Knockout-Stage Drought Ends With a Debt Finally Collected

Portugal beat Croatia 2-1 in the 2026 global football championship's knockout rounds as Ronaldo scored his first-ever knockout-stage goal, Gonçalo Ramos struck a stoppage-time winner, and VAR ruled out a late equalizer for offside.

Bitcoin Price Prediction July 2026: Will BTC Recover to $70K or Drop Below $55K?

Bitcoin price prediction for July 2026: Can BTC recover to $70,000 or fall below $55,000? Explore ETF flows, key support levels, Fed outlook, and our Bitcoin forecast.

A South Korean company that learned the strategy of hoarding coins, from a bull market to delisting?

When the overall momentum of the Korean stock market is strong, this batch of cryptocurrency concept stocks, branded as the "Korean version of Strategy," finds itself at a crossroads of life and death.

WEEX API Broker Program: Turn Your Trading Platform Into a Revenue Engine

Become a WEEX API Broker and earn up to 70% trading fee sharing. Get institutional-grade liquidity, OAuth Fast Connect, and a 4-5 day integration for your AI trading platform, bot, or signal community.

How to choose between buying discounted ETH, Bitmine, and SharpLink?

The answer may not lie in whose story is told better, but in specific dimensions such as cost of holding, financing ability, liquidity, and whether the narrative can be realized.

Wosh: Inflation has cooled in recent weeks, AI is reshaping the economy, and forward guidance has lost its necessity

Federal Reserve Chairman Waller clearly stated at the ECB forum that the Fed will abandon forward guidance on interest rates, with future decisions relying entirely on real-time economic data. He noted that inflation risks in the U.S. have decreased over the past four weeks, but the ultimate impact ...

From Pump.fun to Collector Crypt: Has Solana's income throne changed hands?

The revenue from consumer applications on Solana is no longer solely reliant on meme coin issuance, but is gradually spreading to more consumption scenarios.

Dan Bin's latest speech: Don't miss out on a great era

Don't let hesitation trap your steps, and don't let shortsightedness waste the passing years—make sure not to miss this magnificent era that belongs to us.

Robinhood launches its own blockchain, no longer wanting to be a tenant on others' chains

While laying off employees and issuing bonds, it is the predictive market business that temporarily supports the income.