News from South Korea: Coinone Adopts Ripple, and a New Regulator in Town

[kreslik.news]

Regulations

The new head of the Financial Supervisory Service of South Korea, Yoon Suk-heun, has made comments that the cryptocurrency community may find encouraging. According to the Korea Times, he is open to relaxing the country’s restrictive cryptocurrency regulations.

He told reporters: “Regarding cryptocurrencies, there are some positive aspects. The FSS will collaborate with the FSC when an inspection on policies and financial institutions has different configurations associated with different scopes. FSC inspects policies, while the FSS examines and supervises financial institutions but with the oversight of the FSC.”

Yoon was nominated by the Financial Services Commission, which directs the FSS.

2018 did not ... (read more)