As previously previewed, Yohap News Agency has reported that cryptocurrency investors in South Korea will be fined for refusing to convert their virtual accounts into real-name ones. The move comes as South Korea is scrambling to rein in the virtual currency, including preparations for a bill to ban cryptocurrency exchanges at home. According to the authorities, cryptocurrency traders will be allowed to convert their virtual accounts into real-name ones within this month, but those who refuse to accede to real-name identification will face fines.
In Indonesia, Bank Indonesia affirmed on Saturday that virtual currencies, including Bitcoin, are not recognized as legitimate instruments of payment and are therefore not allowed to be used for payment in Indonesia.
