After weeks of signaling a possible ban on domestic cryptocurrency exchange operations, authorities in South Korea have pulled a one‐eighty and are now reportedly considering a licensing system to regulate virtual currency exchanges in the country.On Monday, Korean news outlet Business Korea reported that members of the government’s virtual currency task force are examining a “cryptocurrency exchange approval system.”
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- South Korea Mulls BitLicense‐Style Rules for Crypto Exchanges coindesk.com on
South Korea is considering adopting a system similar to New York’s «BitLicense» for the regulation of cryptocurrency exchanges, a report states.
- South Korea Mulls NY‐Style Crypto Exchange Approval System cryptovest.com on
South Korea is planning to implement a new cryptocurrency exchange approval system modeled after New York’s BitLicense.
- South Korea Considers Bitlicense‐Style System for Cryptocurrency Exchanges news.bitcoin.com on
The South Korean government is considering introducing an approval system for cryptocurrency exchanges based on the Bitlicense model, developed by the New York State Department of Financial Services.