Upbit and Naver have pushed back their stock-swap agreement for a second time. The delay comes as South Korea debates major crypto legislation that could reshape the digital asset market.
Both companies said the proposed crypto law’s development could affect how the deal plays out. It’s a reminder that regulatory uncertainty still hangs over even the biggest deals in the space.
The stock-swap was meant to strengthen ties between South Korea’s largest crypto exchange and its dominant search portal. But with lawmakers still hashing out the details of new crypto rules, both sides are playing it safe.
No new timeline has been set. Industry watchers say the deal’s fate likely hinges on what the final crypto law actually looks like.
