Crypto exchange KuCoin is planning a return to the South Korean market after being blocked due to regulatory actions. In March and April 2024, South Korea’s Financial Services Commission (FSC) ordered Google Play and Apple Store to restrict access to unregistered crypto platforms, affecting KuCoin and others. While the exchange is currently unavailable in the country, it has not ruled out a comeback.

Newly appointed KuCoin CEO BC Wong confirmed in an interview that the company is actively working to reenter South Korea. However, he emphasized that KuCoin’s first priority is securing compliance in major jurisdictions like the United States, the European Union, China, and India. Only after meeting regulatory requirements in these regions will the company shift its focus to South Korea and other markets.

Wong acknowledged growing regulatory pressures, suggesting that some countries may be intentionally pushing global players out to protect domestic exchanges. He likened the situation to traditional finance, noting that firms must establish a strong legal foundation in every region to operate effectively.

Meanwhile, KuCoin’s EU CEO Oliver Stauber highlighted challenges even within supposedly unified frameworks like the EU’s MiCA regulation. While MiCA is designed to allow companies to operate across the EU with a single license, inconsistencies in how countries interpret the rules are making compliance difficult. Some jurisdictions reportedly claim licenses have been "wrongly assessed," adding complexity to KuCoin’s European operations.

Despite these obstacles, KuCoin remains committed to long-term global expansion, focusing on regulatory alignment as its pathway back into critical markets like South Korea.