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22-Jul-2017 10:54

South Korean authorities are reportedly close to putting the final touches on regulations for bitcoin and cryptocurrency exchanges.

The Financial Services Commission (FSC), South Korea’s financial regulator and authority, is outlining regulations that will mandate cryptocurrency exchanges to play by its rules.

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"[Science] is more than a school subject, or the periodic table, or the properties of waves."The national recommendation for school physical education [PE] - endorsed by the National Association of Sports and Physical Education (NASPE) and the American Heart Association - is that elementary school students be offered at least 150 minutes/week of PE.

The regulations will also prevent the abuse of cryptocurrencies from criminals using it as a tool for money laundering.

Speaking on Tuesday at a forum organized by Korean financial watchdog, the Financial Inteligence Unit, FSC vice-chairman Kim Yong-beom acknowledged the rapid rise in interest and adoption of cryptocurrencies like bitcoin and Ethereum in Korean society.

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Wichtig: Bitte hilf auch bei der Prüfung anderer Übersetzungsvorschläge mit!The report suggests that the newly proposed regulations “would treat the operation of cryptocurrency exchanges (such as Bithumb, Coinone and Korbit) as unauthorized fundraising.” For context, cryptocurrency exchanges currently fall under e-commerce statues that allows them to operate as an e-commerce website by registering as an online vendor.

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