Korea Financial Intelligence Unit to Regulate Crypto Exchange like Banks
The local financial agency, Korea Financial Intelligence Unit (KFIU) will regulate crypto exchange like banks. Likewise, imposing a strict anti-money laundering (AML) policies that ensure cryptocurrencies are not utilizing for illegal activities.
Ripple Urges More Crypto Friendly Regulations in South Korea
South Korea, the country which is enormously involved into cryptocurrencies market has recently announced that it considered digital currencies as an asset. Interestingly, the country revealed that the Korea University is one of 17 universities that Ripple will be funding in the UBRI.
Bitcoin Price Plunges After South Korean Coinrail Crypto Exchange Hacked
On Sunday June 10, bitcoin price fell over 10 percent lowest in two months soon after the South Korean crypto exchange, Coinrail posted a tweet that it was hacked.