Last week, local financial authorities stated that cryptocurrency investors would face fines if they did not switch their virtual accounts to ones with identities attached. (links2exchange.net)
The integration of bitcoin by a major commercial bank in South Korea will likely lead to the imposition of regulatory frameworks by local financial authorities on bitcoin and cryptocurrency businesses, which will further increase the demand for bitcoin from the traditional finance industry. (dailybitcoinnews.com)
Currently, the South Korean government is in sync with US SEC (Securities and Exchange Commission), of their decision to allow ICOs that are registered with local financial authorities to operate. (kryptomoney.com)