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Crypto.com delays app launch in South Korea after regulatory setback

Published date:

February 2, 2026

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Cryptocurrencies can be volatile and high risk. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn more about our Editorial Process and Risk Warning.

Crypto.com has postponed its launch in South Korea following reports of a money laundering probe conducted by local authorities.

Just six days before its planned retail expansion, the crypto exchange https://t.co/UXIzUGRmpj postponed its launch in South Korea so it can communicate further with regulators https://t.co/xjlyy09tm4
— Bloomberg Crypto (@crypto) April 23, 2024

Earlier in 2022, Crypto.com had secured regulatory approval from South Korean regulators. This year, the exchange had planned the release of an app for retail users located in South Korea on April 29. However, the Singapore-based firm had to delay the launch after news outlet Segye Ilbo reported that the exchange platform was under an "urgent on-site inspection" by the Financial Intelligence Unit (FIU) over concerns related to anti-money laundering data.

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According to the report by Segye Ilbo, the FIU, operating under the Financial Services Commission, initiated the on-site inspection after discovering issues with the anti-money laundering data submitted by Crypto.com. The inspection reportedly began on the same day the report was published.

In response, Crypto.com emphasized its commitment to upholding stringent policies, procedures, systems, and controls regarding anti-money laundering measures.

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Ayush Pande

Written by:

Ayush Pande

Writer

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

Radica Maneva

Reviewed by:

Radica Maneva

Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

Bitcompare is a trading name of Blue Venture Studios Pty Ltd.

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