Binance Discontinues Crypto Products and Services in South Korea
Binance will discontinue a number of products and services in South Korea, effective immediately.
Binance Ends Korean Crypto Services
On Friday, Binance announced that it will not be offering products and services in South Korea.
“As Binance constantly evaluates its product and service offerings to proactively comply with local regulations,” Binance said, “we will discontinue the following offerings in Korea, effective immediately.”
The products and services that Binance has suspended in South Korea include:
- KRW trading pairs
- KRW payment options
- P2P merchant applications
- Korean language website support
Binance also disclosed that the crypto exchange would be discontinuing services that stem from the peer-to-peer (P2P) exchange it operates. “Binance P2P will remove KRW trading pairs on Friday, 2021-08-13 at 11:00 UTC (20:00 UTC+9). Users are advised to complete all related P2P trades and remove related trade advertisements,” the trading platform noted.
Binance said that it is not offering any products and services in the Korean language and it does not offer any Korean communication channels.
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