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GoldBitsCoin

Another big step in the journey for acceptance of crypto

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South Korea is continuing to legitimize and embrace cryptocurrency through a careful and considered approach.

The Korea Times has reported that the country’s regulators are indeed set to ease regulations regarding cryptocurrencies — as the Financial Services Commission (FSC) has revised its guidelines for cryptocurrency exchange operators.

One official told the oldest English-language newspaper in South Korea:

The FSC made revisions to its rules to apply strengthened policies in order to prevent or detect money laundering and illegal activities because the regulator isn’t opposed to cryptocurrencies.

Another official stated:

Establishing unified rules is a complicated issue given the broader range of assessments between government agencies. This is why the country needs close international cooperation as it is still in the early stages of fine-tuning guidelines.

Government’s stance and actions thus far indicate an interest in encouraging blockchain technology and the growth of cryptocurrencies, but not at the expense of safety and security.

Check out the article https://bit.ly/2KWg6qJ

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Edited by GoldBitsCoin

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Its nice to see different countries embracing the idea of crypto currency.   The more countries that are open to it the  better it is for the entire crypto currency world.

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And I hear that they are recently thinking about banning Google for the whole of South Korea due to the on-going “spy cam” giant scandal.

Its still strange howeverg, as I believe they are a country that believes in digital currencies and would take actions to bolster the crypto-community but yet on the other hand chose to employ close-minded solutions that would surely regress & delay the actual problem! 

 

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I love hearing acceptance stories like these. The more countries study and embrace the future of crypto, the better these currencies perform. Since a lot of us have invested in them, we just love news like this because our investments are recognised in more places :)

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yeah,. its good to hear that about acceptance.. just hope the intention behind it is for the benifit of the masses and not for hidden agendas that motivates most of the government body.. i can he untrusting when it comes to government, banks which are funded and owned by greedy corporations.. most you see and experience are manipulation and corruption for greed in the expense of the rest of society.. and so far, none of these organizations have showned otherwise.. and im not talkin about individual that works for them.. there are good and honest people within it.. but either powerless to make a difference, some gets corrupted and the stubborn well intention ones goes 6 feet under.. :/

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