South Korea is working on a law to regulate cryptocurrencies to curtail the risks surrounding its use such as lack of customer protection and money laundering, says the country’s Financial Services Commission.
If implemented, the proposal will categorize cryptocurrency exchanges such as Bithumb, Coinone, and Korbit as “unauthorized fundraising” but will allow them to run under certain conditions. FSC said that they recognize cryptocurrencies are already being trading globally. FSC will require them to have customer protection among other features.
Click here to read more:South Korea finalizing regulation for crypto exchanges