Sentences with phrase «local financial authorities»

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.
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.
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.
Sources within the government reportedly revealed the plans of local financial authorities to legalize ICOs in the future.
Specifically, local financial authorities disclosed that several cryptocurrency exchanges in South Korea are unregulated but are operating as legitimate businesses by utilizing the branding of leading financial institutions, like BitKRX.
In September, the Chinese government, People's Bank of China (PBoC), and local financial authorities imposed a nationwide ban on cryptocurrency trading platforms, shutting down some of the largest cryptocurrency trading platforms including OKCoin, Huobi, and BTCC.
The company adds that in order to be certified by the company, aggregators and affiliate companies will need to be licensed by local financial authorities, ensure their ads and landing pages comply with AdWords policies and comply with local laws when speculative financial products are involved.
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.
Last week, The Korea Times, a mainstream media founded by the country's largest newspaper Hankook Ilbo, reported that sources within the government revealed the plans of local financial authorities to legalize initial coin offerings (ICOs) in the future.
Any savings held offshore, ie, particular types of savings accounts, not any money held in a non-UK bank, are usually regulated by the local financial authority, rather than the FCA.
Despite the FSC raising concerns over increasing the investor protection with the higher enthusiasm of people now entering the crypto market, local financial authorities are attempting to authorize domestic ICOs by enabling strict Know Your Customer (KYC) and Anti-Money Laundering (AML) systems, as well as a taxation policy for investors.
Google added that to be certified by the company, aggregators and affiliate companies will need to be licensed by local financial authorities, ensure their ads and landing pages comply with AdWords policies, and comply with local laws when speculative financial products are involved.
Chosun, one of South Korea's largest mainstream media outlets, reported that local financial authorities and law enforcement have begun to crackdown on cryptocurrency exchanges with deceptive marketing and fraudulent operations.
The South Korean government and local financial authorities have warned investors about the emergence of fake cryptocurrency and Bitcoin exchanges.
Still, despite the concerns over investor protection by the FSC, several sources within the government told The Korea Times that local financial authorities are attempting to authorize domestic ICOs by enabling strict Know Your Customer (KYC) and Anti-Money Laundering (AML) systems, as well as a taxation policy for investors.
Local financial authorities will also require six major South Korean banks that have decided to support cryptocurrency exchanges to report to KFIU if suspicious activities are unraveled.
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