Main page News, South Korea

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.

South Korean Crypto Exchanges Establish Self-Regulation Rules

By Nadya Astam

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