South Korea blockchain association announces virtual currency transparency measures
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[SEOUL] A South Korean blockchain association announced on Friday measures to boost transparency in trading of cryptocurrencies, agreed by 14 exchanges in the country including the world's busiest virtual currency exchange, Bitthumb.
The association said in a statement users would only be allowed to trade virtual currency through one account after their identity has been confirmed via traditional financial institutions like banks.
The statement added virtual currency exchanges with more than 2 billion won (S$2.47 billion) worth in assets would be allowed to operate. Measures will start being imposed beginning Jan. 1 next year, it said.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
