Crypto.com Postpones South Korea Launch Amid Anti-Money Laundering Scrutiny

Crypto.com has indefinitely postponed its launch in South Korea just six days before its scheduled launch, following an emergency inspection by financial authorities regarding its anti-money laundering measures. The company aims to clarify its policies and procedures to Korean regulators and ensure compliance with global standards. Despite operating under high anti-money laundering standards, concerns were raised by South Korean authorities regarding the submitted data. Crypto.com, which acquired local exchange Okbit in 2022, had planned to launch a domestic mobile application for coin-to-coin trading on June 29th.

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