Korea Tighten Up Cryptocurrency Exchange Regulations

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: blue_way on April 04, 2018, 08:43:39 AM

Following the footsteps of Japan, today South Koreas Fair Trade Commission (FTC) has ordered several cryptocurrency exchanges to modify their contracts with current customers, in a move to try and better protect those who are trading cryptocurrency online.

At the moment, exchanges operating in South Korea use Adhesion Contracts in order to keep their customer base. The contracts offer customers very little choice in how they do business with the exchange, so things like deposits can be held by the exchange, for example.

https://cryptodaily.co.uk/2018/04/korea-tighten-cryptocurrency-exchange-regulations/

Other side Japanese messenger moved to Korea for making the blockchain project. If the regulations tighten up from their side how the other country people like to invest on cryptos in Korea. Really you guys are spreading the fake news.
Which has been shared in the medial. By the help of media financial whales trying to pull down the potential bitcoin and alts.
I am damn sure with in couple of month they will be able to see the bull run again to touch the peak value. Then we can fuck to the negative cryptos news.

housebtc

sr. member

Activity: 588

Merit: 252

I think this regulations are necessary though some people would say this is government interference, remember the last hack on one of the Japanese exchanges was total at $500 million, if some country get their hands on this sum, if will affect their economy positive. I am in support of these in as much as to protect the users of the exchanges

rumexx

full member

Activity: 476

Merit: 100

South Korea should do all they want to do with cryptocurrency out once to enable the system to correct its price and move on. I know they claimed that it is for the interest of the trader not to be scammed that, this is being done. It has really affected the price in the market that we are in reds once again .

coino.org

full member

Activity: 798

Merit: 101

Who cares about South Korea? In North Korea people are simply not allowed to use internet. I didn't even heard that in South Korea is big circulation of crypto(or people connected with crypto)

marvtridon

jr. member

Activity: 151

Merit: 3

THE ONE STOP SOLUTION FOR THE CRYPTO WORLD

Some of these tightening are very necessary for a safe investments environment. But I do miss the jungle.. The wild Wild west of crypto. Sadly this is slowing going away. I think stability or volatility could be reduced with these.

terible.hunter

member

Activity: 490

Merit: 10

Bitfresh - iGaming with 90s UI

I can not say anything about this yet, because I have not heard anything about this news yet. Nothing good or bad. Therefore, while I'm just reading only what people wrote here and draw my conclusions

Jr.

jr. member

Activity: 98

Merit: 1

Blockchain with a Purpose

South Korea does tackle topics about their rules of the decentralized cryptocurrency and the possibility of money laundering engaging this activity and investors from South Korea also spooked also their side about this regulation introduction because they will do positive long tern investment.

Now it has taken into effect...

blue_way

member

Activity: 173

Merit: 50

Following the footsteps of Japan, today South Koreas Fair Trade Commission (FTC) has ordered several cryptocurrency exchanges to modify their contracts with current customers, in a move to try and better protect those who are trading cryptocurrency online.

At the moment, exchanges operating in South Korea use Adhesion Contracts in order to keep their customer base. The contracts offer customers very little choice in how they do business with the exchange, so things like deposits can be held by the exchange, for example.

https://cryptodaily.co.uk/2018/04/korea-tighten-cryptocurrency-exchange-regulations/

Topic: Korea Tighten Up Cryptocurrency Exchange Regulations (Read 145 times)