Kucoin’s Crypto Exchange said it could be a south of South Korea after its platform was locked in the country.
On March 21, South Korea regulators ordered Google Play to I -block access to exchanges That does not comply with the requirements required to operate in the country. On April 11, the South Korea’s Financial Services Commission (FSC) ordered the Apple Store that I -block unregistered crypto exchange.
Kucoin is among those affected by the country’s cracking on unregistered platforms previously available. While today’s platform is not available to South Koreans, it does not completely leave the scope.
In an exclusive interview with Cointelegraph, Kucoin’s newly designated CEO BC Wong, said the crypto exchange had plans to reinstate the country.
Regulators push global players away from local markets
Wong told Cointelegraph that before the exchange could be a south of South Korea, it plans to secure compliance with major jurisdictions. He said:
“The resource is there. We need one -one. Our approach is always the major jurisdictions preceding, which means the United States, EU, China, India, and perhaps after that, Australia.”
Wong confirmed to Cointelegraph that Kucoin representatives began talking to the regulators. The Executive said Crypto operations are very similar to traditional financial markets, where there is a need for a clear background in each area.
The Kucoin CEO also said regulators were more difficult than three years ago. He said this could be a step to driving global players away from local crypto markets.
“I’m not sure that if the regulators’ intent is to adjust the global market or simply, they want to make all the global types of players coming out of their market, and giving the way for their domestic exchange,” Wong added.
Related: Kraken says how it saw North Korea hacker in work interview
CEO of EU by Kucoin shares European regulation challenges
Oliver Stauber, who joined Kucoin as European Union CEO, told Cointelegraph that there were also difficulties operating in the EU, even at Bloc’s Crypto-Assets regulation markets (MICA) in place.
Stauber, who previously worked as Chief Legal Officer of Bitpanda, told Cointelegraph that while MICA’s licenses have a passport feature, which should allow license holders to provide services across the EU, the Executive said some jurisdictions define the laws that are different.
Stauber said some jurisdictions could say that licenses were “incorrectly evaluated,” getting way of operating in some constituents.
“Mica said there was a level of Crypto field play across Europe. However, as long as there are players who do not play books, you know it’s a bit messy and difficult,” Staubeber told Cointelegraph.
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