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Tag Archives: Cryptocurrency Regulation

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Will Changes in South Korea’s Financial Regulator Boost Crypto Market Performance?

by David Drake South Korea has made news for having regulated the cryptocurrency industry in Asia. In September 2017, the Financial Supervisory Service (FSS) banned initial coin offerings (ICOs). In January 2018, the Financial Services Commission (FSC), the country’s financial regulator, enforced a ban on anonymous cryptocurrency trading. However, this is set to change in the coming following a change of guard at the FSS. The new FSS governor, Yoon Suk-heun, has hinted that the regulator will consider relaxing cryptocurrency regulations. Cryptocurrency players across the globe are looking forward to regulatory changes in the country. Latif Sim, Chief Information Officer at GCOX says, “Regulation can be seen as an explicit, formal contract between business and society. The intent of regulation is therefore to ensure that markets function in a fair, efficient and orderly manner. Hence, the question is therefore not whether a relaxed regulation will promote adoption but rather is the regulation ... Read More »

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