Cryptocurrency exchange OKCoin going to start working in South Korea, possibly as early as next month.
According to The Korea Times, based in Beijing cryptocurrency exchange is in the process of negotiations with the Korean company developer, publisher and distributor of mobile and computer games NHN Entertainment.
The source suggests that NHN sees this partnership as an opportunity for investment.
OKCoin was founded in China in 2013, but in October 2017, it had to cease its activities after the Chinese regulator imposed a ban on the cryptocurrency exchanges in the country. Since then, the company moved to the OTC model, but also considers opportunities to work in other countries.
The exchange has already launched a website OKCoin Korea and is taking pre-orders at the end of November before the official launch. According to the website, it offers more than 60 digital currencies will be traded against the Korean won.
At the same time in South Korean government circles, discusses the ban on the cryptocurrency or on the activities of cryptocurrency exchanges. Although the likelihood of a total ban small cryptocurrency exchanges are likely to be tightly regulated.
See also Korean regulator: actually it is impossible to close the cryptocurrency exchanges
Cho Jung-hwan, CEO of OKCoin Korea, told The Investor that OKCoin will conform to all Korean regulations.