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South Korean Regulator Says Crypto Investors Are Covered by the Revised Law

On Wednesday, the South Korean financial regulator announced that domestic cryptocurrency investors would be protected under the revised law.

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South Korea Daybit exchange to shut down as regulations take toll

South Korea Daybit exchange to shut down as regulations take toll Business South Korean digital currency exchanges are struggling under the weight of new regulations. The latest victim is Daybit, which announced that it’s shutting down in a month. Daybit cited the toughened regulations that seem to only favor the big exchanges, while pushing the smaller rivals out of business, as the reason for its closure. South Korea has been in the past few years striving to regulate the digital currency industry. One of the measures it has put in place relates to anti-money laundering and identity verification requirements. This regulation came into effect a month ago. While it will protect the Korean investors, some of the requirements have proven to be too much for the smaller exchanges.

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All 200 Cryptocurrency Exchanges Could Be Shut Down Under New Regulation in South Korea, Regulator Warns – Exchanges Bitcoin News

All 200 Cryptocurrency Exchanges Could Be Shut Down Under New Regulation in South Korea, Regulator Warns – Exchanges Bitcoin News
bitcoin.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bitcoin.com Daily Mail and Mail on Sunday newspapers.

Soult ukpyolsiSouth koreaFinancial services commissionNational assembly political affairs committeeMinistry of strategyRegulator warnsEun sung sooCrypto exchanges could be shut downNational assemblyPolitical affairs committeeKorea timesChairman eunSpecial funds actUsing specified financial transaction informationInformation security management systemதெற்கு கொரியா

Korean Cryptocurrency exchange companies shutting down due to new laws

Korean Cryptocurrency exchange companies shutting down due to new laws
econotimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econotimes.com Daily Mail and Mail on Sunday newspapers.

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South Korea plans interagency crackdown on illegal crypto transactions

South Korea plans interagency crackdown on illegal crypto transactions South Korea’s top financial regulator established dedicated crypto investigation teams across the country last week. 5672 Total views News Several South Korean financial authorities are planning to join forces to combat illegal operations involving cryptocurrencies like Bitcoin (BTC). The interagency crackdown comes in response to growing concerns over speculative investments and potentially illegal activities amid the ongoing boom in crypto markets, Koo Yun-cheol, head of the Office for Government Policy Coordination, said Monday. “There is a need to pay special attention to the occurrence of illegal activities using virtual assets,” he stated at a vice ministers’ meeting on crypto, according to local news agency Yonhap.

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