South Korean cryptocurrency exchanges, at the request of government regulators, are forced to stop registering anonymous accounts intended for transactions with digital currency. For violation of de-anonymization rules, the accounts of users who have not been identified in the system are banned.
The South Korean government has tightened the requirements for cryptocurrency exchanges due to the fact that digital currencies cannot be equated to fiat currencies and perform the same functions. Regulators are concerned about the fact that the prices of digital currencies on South Korean exchanges are higher than on exchanges in other countries and the high volatility of cryptocurrencies can lead to significant losses.
The government's decision to close anonymous accounts on the country's cryptocurrency exchanges is designed to reduce the risks of losses and avoid fraud. Last year, facts of the emergence of fraudulent exchanges in the Korean cryptocurrency market were revealed, which forced regulators to take action. Additionally, a legislative framework is being considered that will allow, if necessary, to close such exchanges.
South Korean government officials consider cryptocurrency trading to be speculative and do not see a rational function in it.
According to ttrcoin.com
You May Also Like
Bitmain becomes a strategic investor in hackathon organizer DoraHacks
The world-famous manufacturer of mining equipment decided to invest in the development of the hacker conference movement
Kraken: Bitcoin Cash SV is a high-risk investment
San Francisco-based crypto exchange Kraken, the largest and one of the most secure crypto platforms, has warned users about the risks of trading the new Bitcoin Cash SV (BCH SV) token, saying the fork does not meet all of the exchange's listing requirements.
