CoinDesk Analysis Team
CoinDesk
Crypto exchange Binance said it will discontinue trading pairs and payment options using the South Korean won effective immediately.
-
The exchange announced Friday changes to its product offerings in South Korea, including the discontinuation of P2P merchant applications and Korean language support.
-
Won trading pairs will be removed at 11:00 a.m. UTC today, with users advised to complete all trades and remove related advertisements by 10:00 a.m.
-
Binance said it intends to proactively comply with local regulations, part of its recent attempt to take the initiative in its regulatory positioning, as CEO Changpeng Zhao has indicated.
-
South Korea is not among the long list of countries whose financial watchdogs have issued warnings or notices that Binance is not permitted to be operating in its jurisdiction, though the regulatory landscape there is far from certain.
-
The country's Financial Intelligence Unit last month told foreign crypto exchanges they have until Sept. 24 to register in line with new anti-money laundering laws or face blocked access and possible criminal inquiries.
-
Binance announced in December 2020 the closure of its South Korean affiliate due to low usage and volume.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Recommended Content
Editors’ Picks
XRP chart signals 27% jump after SEC-Ripple appeals pause and $50 million settlement
Ripple (XRP) stabilized above $2.00 exemplifying a similar pattern to the largest cryptocurrency by market capitalization, Bitcoin (BTC), which holds firmly above $84,000 at the time of writing on Thursday.
Bitwise lists four crypto ETPs on London Stock Exchange
Bitwise announced on Wednesday that it had listed four of its Germany-issued crypto Exchange-Traded products (ETPs) on the London Stock Exchange. It aims to expand access to its products for Bitcoin (BTC) and Ethereum (ETH) investors and widen its footprint across European markets.
RAY sees double-digit gains as Raydium unveils new Pumpfun competitor
RAY surged 10% on Wednesday as Raydium revealed its new meme coin launchpad, LaunchLab, a potential competitor to Pump.fun — which also recently unveiled its decentralized exchange (DEX) PumpSwap.
Ethereum Price Forecast: ETH face value- accrual risks due to data availability roadmap
Ethereum (ETH) declined 1%, trading just below $1,600 in the early Asian session on Thursday, as Binance Research's latest report suggests that the data availability roadmap has been hampering its value accrual.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.