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.

Sep 17, 2021 at 7:49 a.m. UTC
Updated Sep 17, 2021 at 6:58 p.m. UTC

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

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

In a blog post 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.”





The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

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 a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

Trending

1
Institutional DeFi Enabler? Data Firm Kaiko Probes DEX Liquidity With New Product

The data feed unpacks what’s what in Uniswap, SushiSwap, Curve Finance and Balancer asset pools.

The data feed unpacks what’s what in Uniswap, SushiSwap, Curve Finance and Balancer asset pools.

2
US Appeals Court Orders SEC to Bring Enforcement Actions to Jury Trials

The 5th Circuit Court of Appeals found that the targets of SEC enforcement actions had their constitutional rights violated by the use of in-house judges.

The 5th Circuit Court of Appeals found that the targets of SEC enforcement actions had their constitutional rights violated by the use of in-house judges.

3
First Mover Asia: Pine Wants to Test the Liquidity of the NFT Market; Cryptos Are Well-Red

The number of users on NFT markets is at its lowest point this year, but still higher than in 2021. The crypto lending platform sees an opportunity.

The number of users on NFT markets is at its lowest point this year, but still higher than in 2021. The crypto lending platform sees an opportunity.

4
CFTC Chair Indicates Agency Will Increase Crypto Enforcement: Report

Rostin Behnam said the agency was facing a rapidly increasing number of cases and would add resources to address crypto fraud.

Rostin Behnam said the agency was facing a rapidly increasing number of cases and would add resources to address crypto fraud.