Suddenly: South Korea intends to implement additional regulatory control of encrypted currency transactions

nBankruptcy comment: South Korean government said in a statement today said it will implement additional measures to monitor speculation in cryptocurrencies. According to the statement, such measures include the ban on the opening of anonymous accounts and the regulatory measures such as the closure of the virtual currency exchange at the request of the Ministry of Justice. Although there have been indications that the country may impose stringent regulation, the regulatory measures shown in the statement may still bring about no small impact on the country’s market. Related regulatory information is subject to further improvement.n
nTranslation: Clovern
DECEMBER 28 Seoul (Reuters) – The South Korean government said in a statement on Thursday that it will implement additional measures to regulate speculation in crypto currency trading.n
According to the statement, these measures include the ban on the opening of anonymous accounts and the regulatory measures such as the closure of the virtual currency exchange at the request of the Ministry of Justice.n
However, the government’s introduction of such regulatory measures is not beyond expectation. Because previously there have been reports that South Korea’s regulators are considering the regulatory measures, South Korean domestic media also have reported that South Korean financial regulators consider a total ban on encrypted currency transactions. In this regard, South Korea’s top financial regulator also clarified the relevant position, but at that time the ministries did not agree on specific regulatory measures.n
Not long ago, Youbit, the cryptocurrency exchange in South Korea, announced that it was suffering the second hacker attack this year and suffered heavy losses and went bankrupt.n

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