What are the latest regulations for Korean crypto trading?

3 answers

• Nov 28, 2021 · 3 years ago
  Certainly! The latest regulations for Korean crypto trading have been aimed at increasing transparency and security in the market. The Financial Services Commission (FSC) has implemented stricter Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements for cryptocurrency exchanges. This means that users will need to provide more personal information and undergo verification processes before they can trade. These measures are intended to prevent illegal activities and protect investors.
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• Nov 28, 2021 · 3 years ago
  The regulations also require cryptocurrency exchanges to obtain licenses from the FSC in order to operate legally in South Korea. This ensures that exchanges are subject to regulatory oversight and can be held accountable for their actions. Additionally, the government has imposed restrictions on anonymous trading and has increased scrutiny on exchanges to prevent market manipulation and fraud. These regulations are part of the government's efforts to create a safer and more stable environment for cryptocurrency trading in South Korea.
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• Nov 28, 2021 · 3 years ago
  As a representative of BYDFi, I can say that our exchange fully complies with the latest regulations for Korean crypto trading. We have implemented robust KYC and AML procedures to ensure the security of our users' funds and to prevent any illegal activities on our platform. Our users can trade with confidence knowing that we prioritize their safety and adhere to all regulatory requirements. We are committed to providing a transparent and trustworthy trading experience for our users.
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