All 200 Cryptocurrency Exchanges Could Be Shut Down Under New Regulation in S...
The chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), Eun Sung-soo, has warned that all of the cryptocurrency exchanges in the country could be shut down. South Korea currently has about 200 cryptocurrency exchanges, he said. All Crypto Exchanges Could Be Shut Down in South Korea At the general meeting of the National Assembly’s Political Affairs Committee last week, The Korea Times quoted Chairman Eun as saying: All of the nation’s 200 cryptocurrency exchanges could be shut down after September once a special financial law takes....
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South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have not been able to meet the requirements. 11 Crypto Exchanges Could Be Shut Down South Korea’s top financial regulator, the Financial Services Commission (FSC), will reportedly shut down 11 cryptocurrency exchanges, The Korea Herald reported Monday, citing unnamed industry sources. The 11....
The deadline for cryptocurrency exchanges and wallet operators to comply with the new regulatory requirements to stay open in South Korea is this week. So far, only one crypto exchange has been licensed to continue operations. About 60 crypto exchanges are expected to either shut down or reduce services.
60 Crypto Exchanges Expected to Shut Down or Reduce Services
Under the “Act on the Reporting and Use of Specific Financial Transaction Information (Special Act),” crypto exchanges must be Information Security Management System (ISMS)-certified and register with the....
The new chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is pushing for more regulation around cryptocurrency exchanges, citing the need for investor protection in this area. He has asked Congress to weigh in. SEC Chairman Pushes for More Crypto Regulation SEC Chairman Gary Gensler talked about cryptocurrency regulation on Thursday at a Financial Industry Regulatory Authority (FINRA) conference. FINRA is a government-authorized not-for-profit organization that oversees U.S. broker-dealers. “At the SEC, we are focused on going after misconduct wherever we....
The deadline for crypto exchanges and service providers in South Korea to meet requirements to stay open under the new regulation has passed. Twenty-nine cryptocurrency exchanges met the deadline to continue operations but only four of them can offer trading in Korean won.
New South Korean Crypto Regulation in Effect
The Act on Reporting and Using Specified Financial Transaction Information requires crypto exchanges to obtain Information Security Management System (ISMS) certification and submit a report to the country’s Financial Intelligence Unit (FIU) by midnight on....
The Proposed Bitcoin Regulation "BitLicense" Could Shut Down Mining And Bitcoin Businesses In The US
NYS Bitcoin Regulation Proposal Could Shut Down Mining And Bitcoin Businesses In The US. The proposal for regulating Bitcoin and other cryptocurrencies called BitLicense could have far-reaching and chilling effects. Not only does the licensing issues affect businesses and invade citizens privacy with overly big brother type burdensome identifications of users, it will also likely shut down Bitcoin and cryptocurrency mining in the US. One of the most respected and best Bitcoin Mining Pools is BTC Guild. It is run by Eleutrhria who hosts the pool in Nevada. They have a shutdown plan in place....