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Financial Authorities Pull Cloak of Anonymity From Cryptocurrency via ID System

Financial Authorities Pull Cloak of Anonymity From Cryptocurrency via ID System

SEOUL, Jan. 15 (Korea Bizwire) – The Financial Supervisory Service (FSC) has crafted a rewards-and-penalties system to persuade cryptocurrency investors to provide identification information prior to conducting transactions.  An individual at one of South Korea’s financial regulatory agencies said, “Since banning cryptocurrency transactions outright will take a considerable amount of time, [the FSC] will look [...]

Banning Cryptocurrency Exchanges Needs More Consultations: Finance Minister

Banning Cryptocurrency Exchanges Needs More Consultations: Finance Minister

SEJONG, Jan. 12 (Korea Bizwire) — Finance Minister Kim Dong-yeon said Friday that relevant ministries need to hold more consultations over the justice ministry’s plan to ban cryptocurrency exchanges, but the government will continue to take actions against speculative investment in virtual coins. The remarks by Kim came a day after Justice Minister Park Sang-ki [...]

Government Investigations Target Top Bitcoin Exchanges

Government Investigations Target Top Bitcoin Exchanges

SEOUL, Jan. 11 (Korea Bizwire) – In what could be the first domino to fall in a sweeping investigation into all things cryptocurrency, Coinone, one of the top three exchanges in the country, is currently the subject of a police investigation. With fellow exchange Bithumb also falling under the crosshairs of the National Tax Service, [...]