South Korea don put hand for crypto exchange ban for app stores, e dey affect 98% of users
South Korea Financial Intelligence Unit (KoFIU) don force Apple and Google to komot 28 cryptocurrency exchange wey dey control from dia app stores. This regulatory action na part of dia effort to fight money laundering and wey no get permission to dey do foreign exchange business. The decision affect almost all smartphone users for South Korea, because na Android or iOS dem dey use. Big exchanges like KuCoin, MEXC, and Poloniex dey inside the ban. Dem dey expect the crackdown to cause ripple effect for global crypto regulations, wey go focus on international operators wey no register. On top of that, South Korea dey move towards pilot program for company crypto purchase wey go start for 2025, wey dey show say the regulatory landscape dey complex as dem dey balance innovation with compliance. All these things dey show say regulatory scrutiny don increase, and e fit affect how local crypto markets dey operate.
Bearish
The news wey dey say government don ban big crypto exchange dem from app store for South Korea fit make crypto market fall, because e show say government dey look crypto well well and e fit cause wahala for foreign crypto business for the area. For short time, this one fit make am hard to use and trade for the exchange dem wey dey affected, and e fit make people dey sell their tokens because dem no sure wetin dey happen and people no trust dem again. For long time, even though say if government clear things up, e go better, the confusion wey dey ground dey always affect market, as traders and investors dey fear to join until government settle the matter.