Crypto.com Delays South Korea Retail Expansion Amid Regulatory Concerns

Crypto.com postponed its expansion into the South Korean retail market just six days before its planned launch, citing the need for further communication with regulators. The decision came after South Korea’s Financial Intelligence Unit visited Crypto.com's local office due to "concerning matters' ' found in submitted anti-money laundering documents. The company stated its commitment to working with regulators to ensure responsible industry advancement for Koreans. Despite plans to launch services on April 29 through its locally acquired platform OkBIT, Crypto.com did not disclose a new launch date. The delay follows political discussions in South Korea about crypto assets, with promises from political rivals to address digital asset taxes and restrictions on investing in US Bitcoin ETFs.