South Korea is one of the world’s largest markets for cryptocurrency trading and we have previously reported here and here on steps taken by that government in the cryptocurrency space. Reuters reported today that South Korea is not going to go as far as China, which has blocked virtual coin platforms. The country’s finance minister said that the government has no plans to shut down cryptocurrency trading. Rather, the government will act through regulating the…
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…
In well publicized moves in late 2017, both China and South Korea banned ICOs. Today, the Malaysian finance minister said in an interview that Malaysia will not impose a blanket ban on cryptocurrency trading. At the same time, South Korea’s Yonhap News Agency reported that, in a further tightening move, “The South Korean government has been developing a system that is likely to start banning the use of anonymous accounts in cryptocurrency transactions from around…