South Korea Tightens Rules For Crypto Sector
The Financial Services Commission has put forward revised regulations for cryptocurrency exchanges in a bid to prevent money laundering.
- Rosemary Tomichan
- Jul 03, 2018
- May 05, 2024
The Financial Services Commission has put forward revised regulations for cryptocurrency exchanges in a bid to prevent money laundering.
South Korea's Central Bank releases a report on digital currency and highlights its opposition toward Central bank based Digital Currency
South Korea has now cleared the cryptocurrency exchange Bithumb of all charges citing that no irregularities in tax payment seem to have been found.
South Korea continues to move forward towards re-legalizing ICOs in the nation and bringing them under government regulations as a legislation is being drafted.
The South Korean policymakers are now looking forward towards adopting G20 standards when it comes to regulating cryptos in their country.
Three of South Korean virtual money exchanges are being subjected to investigation and suspicious employees are being arrested.
South Korea’s largest cryptocurrency exchange Upbit is being investigated by the FSC over suspicions of balance sheet fraud to cheat investors.
Bank of Korea, the Central Bank of South Korea is looking at cryptocurrencies as a way to eliminate the use of coins from the economy.
The Panmunjom Declaration, signed by leaders of North and South Korea marking the end of the Korean war is stored on block 5517596 of the Ethereum blockchain.
Nexon CEO Lee Jung-hun denied that Nexon Korea is not planning to acquire Bitstamp. However, parent company NXC Corp is still rumored to be on-board with the deal.
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