Bybit to End Korean Language Support on Official Platforms, Social Media

The exchange also said it is discontinuing its official Korean community support on social media channels.

AccessTimeIconSep 17, 2021 at 7:49 a.m. UTC
Updated May 11, 2023 at 5:48 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Cryptocurrency exchange Bybit said it will stop supporting Korean on its official platforms as of next week.

In a blog posthttps://blog.bybit.com/en-us/announcements/kr-adjust-service/ on Friday, the exchange said it will also end its official Korean community support on social media channels.

The changes will take place just four days before a Sept. 24 registration deadline that is set to cause most of South Korea’s crypto exchanges to shut down. Rival Upbit became the first to register with the country’s Financial Intelligence Unit last month. Under a law passed earlier this year, crypto exchanges must register with the regulator by the deadline or cease operations in the country.

“Bybit regularly evaluates the viability of providing the quality services clients have come to expect, while staying in compliance with local regulatory changes,” the exchange said. “Bybit believes that regulations are necessary for the democratization of cryptocurrency.”

In an official FAQ factsheet, Bybit said traders would still be allowed to access its platform and trade while they are in Korea, though all services would be provided in English.

Bybit told CoinDesk it was “just stopping to offer Korean language support,” while adding it didn’t want “to make too much of a fuss about it.”





Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Sebastian Sinclair

Sebastian Sinclair is a CoinDesk news reporter based in Australia.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.