Binance ends South Korean Won trading pairs to comply with regulation

Effective immediately, Binance, the largest cryptocurrency exchange, will discontinue South Korean Won KRW trading pairs, KRW payments options, P2P merchant applications, and Korean language website support, to comply with local regulations. Won trading pairs will be removed at 11:00 a.m. UTC on Friday. Users are advised to complete all related P2P trades and remove trade advertisements by 10:00 a.m. Although South Korea isn't among the list of countries whose regulators have explicitly said Binance isn't allowed to operate in its jurisdiction, the regulatory environment in South Korea is "far from certain," Coindesk reports. South Korea's Financial Intelligence Unit recently warned crypto exchanges that they have until Sept. 24 to register in line with new anti-money laundering laws, Coindesk notes. Binance Coin (BNB-COIN) jumps 5.1% to $402 in the past 24 hours as Bitcoin (BTC-USD) is also up 4.9% to $46.6K. In July, Binance looks for a new CEO with strong regulatory experience