FAST FIVE: Crypto Nightmare: 97% Of South Korean Exchanges Are At Risk Of Going Bankrupt
As a result, the majority of domestic exchanges are at risk of imploding, reported BusinessKorea.
BusinessKorea said Binance Labs, headquartered in the European Union, has added the won feature to its platform to attract cryptocurrency projects from South Korea.
Medibloc and Temco, are two Korean blockchain projects that are expected to list on foreign exchanges.
Crypto experts tell BusinessKorea that Korean blockchain companies are desperately trying to list in foreign markets because domestic cryptocurrency exchanges are faltering.
He added, tighter regulations, as per what BusinessKorea said, would likely result in more exchange failures in 2020.