Skip to main content

South Korean Regulators Plans to adopt Crypto Exchange Licensing System

South Korean Regulators Plans to adopt Crypto Exchange Licensing System:
Since the New York department of financial services (NYDFS) developed Bitlicense, a regulatory license that permits exchanges to trade in cryptocurrencies in the state, it has awarded approval to only six trading companies. The license gives restrictive controls and capital requirements to the companies and allows the government to monitor the market in an orderly fashion.
The restrictions and limits this licensing system has set upon businesses prompted the south korea government to be considering adopting a system similar to Bitlicense, in an attempt to regulate the digital money trading in the country.
South Korean regulators plan to introduce a cryptocurrency licensing system, Business Korea reported. An official said they were considering the adoption of a system for the approval of stock exchanges as an additional regulation on cryptocurrencies to be positive. We rather compare the model of the state of New York, which gives selective permission.

Comments

Post a Comment

Popular posts from this blog

Guzan Intercity Ent. – Review

Hi guys. Today I will do an honest review of the group (or company) called Guzan Intercity Ent. www.guzanintercityent.com Let us start by knowing who the company is and what they do. Guzan Intercity Enterprises is a marketing company located in the heart of Lagos   –   5/7 Oduduwa Road, Liverpool Apapa, Lagos, Nigeria; serving as manufacturers' representatives, both local and international. They claim to be fully incorporated in Nigeria with the corporate affairs commission (CAC) since 2009. The vision as was depicted on their site (which was down as at the time of this report) was as follow: “Our motivation is our dream to enhance the life of an average salary earner in the civil service, by way of giving out commodities ranging from vehicle, building materials, general household electronics and sinking of borehole for interested but pensionable civil servants of various government ministries... Our services repayment plan, Payment After Service Delivery...
Post a Comment
Read more

215,000+ Sign Petition Against South Korean Cryptocurrency Regulation – Government to Respond

215,000+ Sign Petition Against South Korean Cryptocurrency Regulation – Government to Respond : A national petition against extreme cryptocurrency regulations in South Korea has exceeded 200,000 signatures, the requirement for the government to respond. The petition entitled “Has the government ever dreamed a happy dream for the people?” was filed on December 28. Meanwhile, another related petition calls for the removal of the governor of the country’s Financial Supervisory Service. Government Will Respond The South Korean government announced a series of regulatory measures for cryptocurrencies in December. Immediately following the announcement on December 28, a national petition entitled “Has the government ever dreamed a happy dream for the people?” was filed and will run through January 27. According to the rules set by the Blue House, if more than 200,000 people sign a petition within a month, the government will respond within 30 days. On Tuesday, January 16, the number...
Post a Comment
Read more

Osun Workers Benefit From Church Scheme Over Unpaid Salaries

FOR public service workers in Osun State, these are indeed trying times. For about seven months now, they have not received salaries from their Osun State government employer under the leadership of Governor Rauf Aregbesola. All they get from Aregbesola instead are promises that are yet to be fulfilled since last year when the state wage bill began to pile up. Even though Osun State is not the only state in the federation that is facing financial difficulty and owing its workforce, yet, the ugly situation in the state appears to have been further aggravated by the fact that the authorities have not thrown the card open about the true picture of the state of finance. The expected line of communication between employee and employer seems to be lacking. However, Aregbesola has blamed the inability by his administration to pay salaries regularly on dwindling resources coming to the state from the federal purse. He said, “Problem began in 2012 when our expe...
Post a Comment
Read more