Sentences with phrase «virtual currency accounts»

Over the past few years, there have been quite a few cases of hacking of virtual currency accounts.

As previously announced, foreigners and minors will not be allowed to create virtual currency accounts even if their identity is checked out.

Last month, financial regulators announced stricter authentication for opening virtual currency accounts.

South Korea's Financial Services Commission and the Financial Supervisory Service will inspect six local banks offering virtual currency accounts.

Those with virtual currency accounts created by banks after their real name has been checked will be allowed to trade, the Financial Services Commission (FSC), the nation's finance watchdog, and Financial Supervisory Service (FSS) and the Korea Financial Intelligence Unit (KoFIU) announced.

The news was announced as Korean banks move to phase out anonymous virtual currency accounts in line with the government's stated plan to calm what it perceives as an overheated cryptocurrency market.

Currently, there is no pertinent regulation or central supervising authority for virtual currencies, nor government / central bank protection for virtual currency accounts, leaving users with no recourse in case of fraud.

In the beginning of this January, South Korean Financial Services Commission (FSC) and Financial Supervisory Service (FSS) announced that they were inspecting six local banks that work with virtual currency accounts on whether they complied with anti-money laundering rules and verified real names of virtual account holders.

Some virtual currency users have been unable to access their legitimate virtual currency account because of heavy traffic by other users or a prevalence of criminal activity in virtual currency use — To protect yourself, become educated as to the potential risks before deciding whether you want to transact in virtual currency.

South Korean financial authorities had previously said they are inspecting six local banks that offer virtual currency accounts to institutions, amid concerns the increasing use of such assets could lead to a surge in crime.

Last year, the government announced that minors and foreigners would be banned from opening virtual currency accounts, saying it would also tax income generated from virtual currency.

In early 2018, South Korea banned anonymous virtual currency accounts.

Other measures, which are likely to impact cryptocurrency companies more broadly, include on - site inspections from the FSC from the end of September, and the analysis of virtual currency accounts for user data from December.

South Korea's largest bank, Shinhan Bank, said on Friday that it would be closing down the virtual currency accounts it offers in order to comply with new regulations surrounding their use.

South Korean financial authorities had previously said they are inspecting six local banks that offer virtual currency accounts to institutions, amid concerns the increasing use of such assets could lead to a surge in crime.

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

South Korea's largest bank, Shinhan Bank, said on Friday that it would be closing down the virtual currency accounts it offers in order to comply with new regulations surrounding their use.

South Korea's financial regulator revealed earlier this week it was jointly carrying out inspections on six local banks that offer virtual currency accounts to institutions amid concerns their increased use could lead to a surge in crime.

The Financial Services Commission, the nation's finance watchdog, is probing banks that offer virtual currency accounts.

Organizers of ICOs should disclose information about the beneficiaries, location of the issuer, its virtual currency accounts, and purses, and mention rights of token holders.

South Korea's financial regulator has said it is jointly carrying out inspections on six local banks that offer virtual currency accounts to institutions.

South Korean financial authorities on Monday said they are inspecting six local banks that offer virtual currency accounts to institutions, amid concerns the increasing use of such assets could lead to a surge in crime.

«A virtual currency accounting standard is still in the draft stage.

We will prepare the virtual currency accounting standard by next month.»