OKEx Korea Shuts Down Operations
- Centralized Exchange
- Regulation
OKEx Korea, the South Korean arm of the global crypto exchange OKEx, officially shut down on April 7, 2021. The exchange instructed all customers to withdraw their fiat and crypto holdings by the deadline, citing regulatory pressures as the reason for closure. This move sparked discussions on CT about the tightening grip of South Korean regulations on crypto exchanges. Many saw it as a sign of tougher times ahead for smaller exchange branches in the region.