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.
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.
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.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Ezra Reguerra
The story "KuCoin to reenter South Korea after securing key markets: CEO" has 493 words across 20 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "KuCoin to reenter South Korea after securing key markets: CEO" was covered 1 days ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 18 news stories per day.
It's most recent story was published 9 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Positive, indicating that people regard this as "good news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
