sandhya12
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Another big step in the journey for acceptance of crypto

Mon Feb 18, 2019 11:33 am

South Korea is continuing to legitimize and embrace cryptocurrency through a careful and considered approach.

The Korea Times has reported that the country’s regulators are indeed set to ease regulations regarding cryptocurrencies — as the Financial Services Commission (FSC) has revised its guidelines for cryptocurrency exchange operators.

Image

One official told the oldest English-language newspaper in South Korea:
The FSC made revisions to its rules to apply strengthened policies in order to prevent or detect money laundering and illegal activities because the regulator isn’t opposed to cryptocurrencies.

Another official stated:
Establishing unified rules is a complicated issue given the broader range of assessments between government agencies. This is why the country needs close international cooperation as it is still in the early stages of fine-tuning guidelines.

Government’s stance and actions thus far indicate an interest in encouraging blockchain technology and the growth of cryptocurrencies, but not at the expense of safety and security

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AnyCrypto
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Re: Another big step in the journey for acceptance of crypto

Mon Feb 18, 2019 1:01 pm

Great to hear that South Korea made such an important step!

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Xtoyak
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Re: Another big step in the journey for acceptance of crypto

Sat Mar 23, 2019 5:51 pm

I think that it is only following other regulators in the world who are adopting regulations regarding trading and making payments in cryptos. They have figure out that this technology cannot be easily controlled and it is better than to be at least regulated

Vlad96
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Re: Another big step in the journey for acceptance of crypto

Wed Apr 03, 2019 10:14 am

South Korea needs to do something with hack attacks. In South Korea has been hacked a crypto exchange. It is great that they ease regulations, but without good security, people won't trust crypto

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BenFormer
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Re: Another big step in the journey for acceptance of crypto

Thu Apr 04, 2019 11:43 am

It would be great to see other many countries to make this big important step in crypto.

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