The deadline for South Korean crypto exchanges to meet new compliance requirements is looming fast, with all operators expected to submit requests for an official license with the Financial Services Commission (FSC) no later than Sept. 24.
Industry actors and representatives for smaller exchanges have contested the new requirements for much of the past year, yet without success. Now insiders reportedly expect that close to 40 of the country’s estimated 60 crypto operators will be forced to shut down.
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