South Korean Lawmaker Wants to Regulate Bitcoin and Ethereum Trading

[kreslik.news]

Cryptocurrency trading in South Korea is about to get a legal framework soon if one lawmaker has his way. Representative Park Yong-jin, of the ruling Democratic Party of Korea, announced on Monday that he will be introducing three bills in July designed to regulate the rapidly expanding field.

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According to the Seoul-based newspaper The Korea Herald, one proposed revision to the Electronic Financial Transactions Act would mean that traders, brokers and other business entities involved in cryptocurrency transactions will be required to get regulatory approval from the ... (read more)