South Korean crypto crackdown. New rules to take effect on Tuesday.

in #cryptocurrency7 years ago (edited)

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South Korean regulations to prevent money laundering and anonymity. In an article published by CNBC https://www.cnbc.com/2018/01/29/south-korea-cryptocurrency-regulations-come-into-effect.html
It claims "The rules bring greater legitimacy to the cryptocurrency markets and are positive in the long term".

In a document published by the South Korea's Services Commission http://www.fsc.go.kr/eng/new_press/releases.jsp?menu=01&bbsid=BBS0048&selYear=2018#34502 regulators say it will only allow trade in cryptocurrencies from real-name bank accounts beginning Jan. 30

Since then exchange Bithumb has began the real-name cryptocurrency identification service this morning. A representative of the company says operations have "gone smoothly"and "Nothing has changed in terms of coin transaction" .

https://www.cnbc.com/video/2018/01/29/this-investor-welcomes-regulations-on-cryptocurrencies.html

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Good stuff, that is now sorted out