South Korea Will Regulate Cross-Border Crypto Transactions
According to The Korea Times, the South Korean government is planning to regulate transactions involving virtual assets, including cryptocurrencies.
According to The Korea Times, the South Korean government is planning to regulate transactions involving virtual assets, including cryptocurrencies.
South Korea’s second largest cryptocurrency exchange, Bithumb, has made a formal announcement of its plans to explore listing on the US Nasdaq.
Major cryptocurrency operators in South Korea will now need to pay a supervisory fee as part of the recently implemented Virtual Asset User Protection Act.
South Korea’s much-anticipated Virtual Asset User Protection Act (VAUPA) has officially taken effect, a significant step in regulating the country’s booming cryptocurrency market.
The Financial Supervisory Service of South Korea has announced it has created a new 24-hour surveillance system for the cryptocurrency market.
South Korean cryptocurrency exchanges may soon delist numerous alternative coins, as financial authorities increase their efforts to regulate the sector.
The South Korean government faces increasing pressure to approve cryptocurrency ETFs after the SEC approved spot Ethereum ETFs in the United States, following the earlier approval of Bitcoin ETFs.
"A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution." - Satoshi Nakamoto (Bitcoin White Paper)
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