South Korea is ready to regulate the cryptocurrency market

South Korea is ready to regulate the cryptocurrency market

The publication Yonhap News has published information about the imminent start of state regulation of speculative investment in digital currency.

The adjustments made in the Legislation of South Korea needs to strengthen the country's rule exchange crucial data between cryptocurrency exchanges and authorities and would oblige the user data exchanges attach a Bank account to make depositing and withdrawing funds.

Other changes in the regulatory legal acts regulating the market of cryptocurrency, which should come into force shortly, will allow for the effective fight against money laundering, and forbid create anonymous accounts on cryptomeria.

In addition, the authorities gave themselves the opportunity to close any service for the exchange of digital currency in the country.

The range of adjustments was first published on the last week of the 2017 Hong Nam-Ki, representing the Committee of state regulation. In an interview with local media, he said that the government can no longer look at the growing speculative activities in the market of digital currencies.южная корея

Also, according to policy, will be limited advertising in this field.

The staff of the financial intelligence, in cooperation with the Department of financial supervision will monitor the implementation of the new rules in the country. Will be checked all the organization associated with the cryptocurrency, to comply with new rules. The inspection will turn up exchanges, banks, stock exchanges and other financial companies.

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