South Korea’s financial regulator, the Financial Supervisory Service (FSS), will inspect crypto exchanges to identify illegal practices following stricter regulations under the Virtual Asset Users Protection Act. The review aims to ensure compliance and safeguard crypto assets, with severe penalties for violations, including life imprisonment for profiting over five billion won illegally. South Korea’s Financial […]
]]>
The Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory Service Takes Responsibility for Crypto Sector in Korea It took the government months to […]
Powered by WPeMatico
]]>
At an annual international conference for regulators in Seoul, the South Korean Financial Supervisory Service urged regulators from 14 other countries to create an international discipline system for cryptocurrency and initial coin offerings. The Korean government also outlined its current crypto countermeasures and pushed for better information sharing and international cooperation. Also read: Yahoo! Japan Confirms […]
The post South Korea Urges 14 Countries to Create International Discipline System for Crypto appeared first on Bitcoin News.
Powered by WPeMatico
]]>
Regional news sources report South Korea’s financial authorities are working on legislation to formally allow initial coin offerings (ICOs) in an effort to appear more welcoming to the larger financial technology community. Also read: Québec Premier: We’re Not Really Interested in Bitcoin Mining South Korea Plans to Make ICOs Legit Online news source The Korean Times reported this […]
The post South Korea Planning to Formally Allow ICOs appeared first on Bitcoin News.
Powered by WPeMatico
]]>
There are over 100 companies reportedly waiting for the Japanese Financial Services Agency to approve their registrations to operate cryptocurrency exchanges. While only 16 exchanges are fully licensed in Japan, the agency has allowed another 16 to operate without a license for the time being. However, going forward, only those with sufficient safety and customer […]
The post Over 100 Firms Seek Licenses to Operate Cryptocurrency Exchanges in Japan appeared first on Bitcoin News.
Powered by WPeMatico
]]>
South Korean government officials have reportedly been caught insider trading. They sold all of their cryptocurrency holdings and profited just before the regulators announced crypto regulatory measures. The country’s Financial Supervisory Service is investigating the case. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading A Case of Government […]
The post South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations appeared first on Bitcoin News.
Powered by WPeMatico
]]>