Binance’s South Korea media outreach draws scrutiny over unregistered operations

Binance has expanded its promotional outreach to South Korean media this year, fueling debate over whether such activity amounts to soliciting domestic customers under the country’s Act on Reporting and Using Specified Financial Transaction Information, Aju Economy reported.

According to the report, Binance has held press briefings in South Korea and distributed materials introducing its services and technological capabilities. The key issue is whether those efforts can be viewed as business activities targeting South Korean residents under the law. Binance has not registered in South Korea as a virtual asset service provider.

Source: Coinness