Woes for Crypto Exchanges in South Korea as Countrywide Clampdown Looms

Crypto exchanges in South Korea could shut down by September 24, 2021. Regulators in the region plan to close trading platforms due to compliance issues. Failure to meet regulatory standards could attract losses worth 3 trillion Korean Won. The value is equivalent to $2.6 billion. Trading Platforms Prepare for Exit Today, local crypto exchanges struggle when trying to uphold guidelines set by the government. In most cases, traders need to reveal their personal information to perform trades in the exchanges. Doing that means…