Kakao, a South Korean internet conglomerate, has reportedly run into problems when looking to list its cryptocurrency Klay.
The company is looking to list on two cryptocurrency exchanges – one in South Korea and one in China. However, a report from News1 suggests that listing it on an exchange in South Korea may prove difficult.
The South Korean government has been hesitant in allowing trade with cryptocurrencies. While it has shown some leniency with smaller firms, an anonymous official told the news service that the reason was that Kakao is just too big to ignore.
In early August, South Korea’s Financial Services commission revealed plans to transform the regulations of the country’s cryptocurrency exchanges. The regulator would, if the changes goes through, directly regulate them instead of doing it indirectly through administrative guidance like it is now.
Copyright © 2019 FinTech Global
