A new report from the Financial Intelligence Unit has revealed that the number of registered crypto trading firms in South Korea has decreased by more than 26% since last year. The closures primarily affected token-only platforms without fiat support, which faced difficulties staying in business. These platforms struggled to attract users without fiat trading options like the U.S. dollar or Korean won. Additionally, many platforms failed to renew their registrations, leading to their exclusion from the nation's registry. The report warns that the number of crypto exchanges in South Korea may continue to drop as some firms still on the list plan to exit and others shift their focus to overseas markets due to regulatory uncertainty.



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