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KuCoin CEO BC Wong revealed plans to reenter the South Korean market after the exchange was blocked due to non-compliance with local regulations. He emphasized the importance of securing compliance in major jurisdictions, including the U.S., EU, China, India, and potentially Australia, before returning to South Korea. Wong expressed concerns that stricter regulations might be aimed at pushing global players out to favor domestic exchanges.
At TOKEN2049 in Dubai, Wong discussed the evolving regulatory landscape, noting that operating in crypto now requires a clear understanding of each jurisdiction’s requirements. He highlighted challenges in Europe, where differing interpretations of the EU’s MiCA regulations complicate operations. KuCoin’s EU CEO, Oliver Stauber, echoed these concerns, stating that some jurisdictions may misinterpret licenses, creating operational difficulties.
Despite these challenges, Wong remains optimistic about KuCoin’s future in South Korea, planning a strategic reentry once compliance with major markets is achieved.
