Sentences with phrase «foreigner trading ban»
Not exact matches
In December, the government then announced it would be banning minors and foreigners from trading in virtual currency or creating bank accounts for them in the country.
https://www.zdnet.com/
New regulations have already banned anonymous trading on domestic exchanges and barred foreigners from participating in the market.
Since last week, a wave of controversy has arisen in South Korea over the government's attempts to more strictly regulate crypto markets, like the banning of the use of anonymous virtual accounts connected to crypto exchanges, forbidding underage citizens and foreigners to invest in crypto markets, and falsey announcing a total blanket ban on cryptocurrency trading.
The vice chairman of the Financial Services Commission, Kim Yong - beom announced several measures that would «ban anonymous trading on domestic exchanges, while foreigners and minors would be completely banned from trading through cryptocurrency accounts.
This, among other things, means that from January 20, South Korea will be banning foreigners and underage investors from trading cryptocurrencies.
If the South Korean government intended to ban cryptocurrency trading, it would have done so on December 13, instead of releasing various regulatory frameworks that included a ban on foreigners trading cryptocurrencies.
It is difficult to measure the impact of the foreigner cryptocurrency trading ban initiated by the South Korean government on the global cryptocurrency market given that the majority of cryptocurrency investors and traders in the South Korean market are the country's citizens.
Some of the new regulations include; a temporal ICO ban, a ban imposed on minors and foreigners from trading and holding cryptocurrencies and a new regulation which gives traditional banks the sole rights to issue virtual bank accounts to customers of cryptocurrency exchanges.
The government wants full identification and also plans to impose a ban on minors and foreigners from trading cryptocurrencies so this should not be mistaken for a complete ban on all cryptocurrency related activities.