The Korea Times reports YoonSuk-heun's assignment as head of Korea's top financial regulator. New FSS (Financial Supervisory Service) Governor YoonSuk-heun acknowledges there are “positive aspects” to cryptocurrencies.
Activist and reformist Yoon underlined that further improvements in cryptocurrency trading require a reliable financial system,which could be achieved with better regulation.
"There are a lot of issues that need to be addressed and reviewed. We can figure them out, but gradually." Yoon answered in reply to a question regarding the regulation of cryptocurrency exchanges.
Earlier, the FSC (Financial Services Commission) announcedthat all cryptocurrency traders are to pass a mandatory ID check with realnames, triggering a market nosedive, with total trading volume falling from 4trillion won to 400 billion won.
By Nadya Astam