South Korea Cryptocurrency Crackdown: Government Considers BitLicense-Style Rules For Crypto Exchanges

News, Regulation | February 14, 2018 By:

The South Korean government is reportedly planning to introduce an approval system for crypto exchanges based on New York’s BitLicense system.

In a report from Business Korea, an unnamed government official involved with a cryptocurrency task force said, “We are positively considering the adoption of an exchange approval system as the additional regulation on cryptocurrencies.