South Korea 25 bitcoin exchange in self regulatory framework plan, intends to learn Japanese

South Korea 25 bitcoin exchange in self regulatory framework plan, intends to learn Japanese

Guided by the Korean Association of chain block encryption monetary discipline initiative, currently has 66 member companies to participate in. It is reported that the price index of the association also plans to develop the mainstream encryption currency.

In the 25 South Korean currency exchange self encryption

South Korea block chain association has been self-regulation in guiding the Korean currency exchange encryption. According to local media reports, the organization was formally established in January 16th this year, a total of 66 members, including 25 encryption currency exchange, such as Upbit, Bithumb, Korbit, Coinone and Coinplug.

According to inews24 reports, the founding ceremony of the association in Seoul Yeouido held the national assembly hall. To attend the meeting of the members of the company have 58, in addition, the South Korean Democratic Party members of the MinByung-Doo and KimSung-tae members of the Liberal Party to participate in the ceremony.

It is reported that South Korea’s former information and Communications Minister ChinDaejae became the first chairman of the association. He said at the ceremony:

“The public interest as the representative of bitcoin encryption currency has surged, excessive speculative capital inflows to the stock exchange, this is the truth we meet at present, and the association, aims to become the channel of communication between the government and the industry.”

Chosun said the association plans in the first half of this year to create an information system, it can make it easier for the public to understand the virtual currency, he added:

The association also plans to develop a virtual currency price and transaction data index, the purpose is to provide reliable information as standard transaction data.”

Korea Exchange self-discipline

The association was originally in the regulatory agencies and the banking sector’s suggestion, in the beginning of last December announced self regulatory measures.

At that time, in addition to Upbit, the country’s 14 major currency exchange announced that encryption is involved in this plan. Now, Upbit has become one of Korea’s largest encryption currency exchange, the final in January this year, joined the blockchain Association, and announced plans to participate in self-discipline.

Chosun said:

“I will be in the first half of this year launched a self regulatory review.”

He further pointed out that “we will study the regulatory framework of Japan, to ensure the stability of ecological system, I will take the initiative to create an environment that allows investors to learn how to use virtual currency.”

According to Hankyoreh reports, the association of disciplinary measures, including the development of minimum operational requirements, such as virtual currency exchange capital base, employee moral regulation and consumer protection measures.

Leave a Reply

Your email address will not be published. Required fields are marked *