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In S Korea’s New ‘Stable’ Crypto Sector, There’s Now One Exchange to Rule them All
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In South Korea, just over a month has passed since a seismic regulatory measure was introduced, effectively shutting down most of the nation’s crypto exchanges, leaving just four fully functioning trading platforms standing. And despite the carnage of late September, analysts say the industry is now “stable.”
Official figures vary on just how many crypto exchanges were up and running at the start of 2021, but many regulators agreed that the number was around 66, over half of which closed down on or before September 24, when the Financial Intelligence Unit (FIU)’s grace period for license applications expired.
To gain a license, trading platforms were told to meet a vast range of protocols, including obtaining information security management
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