South Korea Tightens Crypto Rules
This year, governments all over the world are attempting to put in place regulatory frameworks for cryptocurrency regulation. While some governments have launched a crackdown, others have welcomed cryptocurrency with appropriate rules and guidelines.
According to the Financial Times, Yulchon, a South Korean law firm with expertise in digital assets, is assisting the government in “tightening oversight of the country’s exuberant crypto sector.”
South Koreans are heavily invested in the crypto asset class. The Korean won accounts for over 13% of global Bitcoin trading volume. However, citizens have also been victims of various crypto scams.
Hong Kong has also made headlines for its recent crypto-friendly stance, with the goal of becoming a crypto hub.
(With inputs from Shikha Singh)
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