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

www.coindesk.com 17 September 2021 09:00, UTC
Reading time: ~2 m

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 shut down most of South Korea’s crypto exchanges. Rival Upbit became the first to register with the country’s Financial Intelligence Unit last month.

“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 in its opening remarks. “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 whilst residing 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.”

Read more: South Korea’s Ruling Party Looks to Defer Next Year’s Crypto Taxation in Amendment: Report

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