Sentences with phrase «korean financial authorities»

The New York State Department of Financial Services has asked two South Korean financial authorities to share cryptocurrency - related data they obtained from their recent inspections of six major Korean banks.

The New York State Department of Financial Services has asked two South Korean financial authorities to share cryptocurrency - related data they obtained from their recent inspections of...

South Korean financial authorities in...

South Korean financial authorities in cooperation with Korea Financial Intelligence Unit (KFIU) created a task force to oversee cryptocurrency exchanges and to ensure cryptocurrency businesses are compliant with existing regulations, authorities announced on Jan. 25.

In mid-December 2017, the Korean Blockchain Industry Association announced that it plans to «establish a set of specific ethical codes on the virtual currency bourses, including insider trading and market manipulation» after the South Korean financial authorities began considering cryptocurrency regulations.

South Korean financial authorities said Sunday that cryptocurrency investors must change anonymous virtual accounts to ones attached to their identity or face penalties.

In the last few weeks, South Korean financial authorities have been mulling the legalities of a cryptocurrency trading ban, while executing inspections on commercial banks offering trading accounts to digital exchanges.

South Korean financial authorities had previously said they are inspecting six local banks that offer virtual currency accounts

South Korean financial authorities have been warning cryptocurrency exchanges for about three months now.

South Korean financial authorities have been developing a plan that would allow ICOs to be held in the country, according to The Korea Times, which attributes the information to anonymous sources.

Not exact matches

Also Read: South Korean Bitcoin Exchanges Might Soon Be Regulated By Its Financial Authorities

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.

Korean cryptocurrency investors and adopters who refuse to include their real names into their anonymous virtual trading accounts will be fined, financial authorities have reportedly said.

As reported in late December, Korean authorities first set upon enforcing a ban on anonymous trading of cryptocurrencies like bitcoin as a means to crack down on financial fraud, tax evasion and money laundering.

The South Korean government and local financial authorities have warned investors about the emergence of fake cryptocurrency and Bitcoin exchanges.

Currently, the South Korean government is on a similar page with the US SEC, in that it is willing to allow ICOs that are registered with local financial authorities and are conducted transparently.

The New York State Department of Financial Services is eager to know the result of South Korean authorities» investigation into anti-money laundering measures of South Korean cryptocurrency exchanges.

Starting this week, to counterbalance the mishandling of the false cryptocurrency trading ban by the Justice Ministry, the South Korean government and financial authorities have begun to regulate the local cryptocurrency market and businesses strictly.

So, starting from February, it is forbidden to use anonymous virtual accounts, as the country's financial authorities decided to check all South Korean crypto - exchanges and banks, dealing with those exchanges, on compliance with anti-money laundering rules.

S Korean Authorities Say 2017 Was a Bumper Year for Crypto Fraud South Korea's Financial Supervisory Service says it saw a 39 % rise in reports of cryptocurrency - related fraud last year, with a sharp rise in bogus crowdfunding also reported.

Yonhap, a Korean news site, said this latest development from the financial authorities is a «rare move.»

Online news source The Korean Times reported this week «Financial authorities have been talking to the country's tax agency, justice ministry and other relevant government offices about a plan to allow ICOs in Korea when certain conditions are met,» it quoted an anonymous source as insisting.