Published On: Mon, May 7th, 2018

South Korea: FSS Governor Talks Easing of Cryptocurrency Regulations

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Yoon Suk-heun, the newly appointed governor of the Financial Supervisory Service (FSS) of South Korea, has declared that there will be a review of the current crypto regulations in the country. The FSS chief announced this while speaking to reporters after his confirmation.
Striking a Balance Between Regulations and Growth
According to Yoon, the crypto market requires an adequate regulatory framework to grow. During his post-confirmation address, he reiterated the need for clear laws that would make the market stable. Once the market becomes stable, Yoon believes the industry will evolve to create more products and services. By so doing, a more serviceable market environment will emerge.
Yoon Suk-heun, the new FSS Governor
The FSS boss acknowledged the fact that issues were plaguing the crypto market. He assured the public of a thorough examination of these issues. He also noted the fact that the market has its unique nuances which must be understood before making any changes. When pressed by reporters, Yoon declined to give a specific roadmap detailing how the agency will review the current cryptocurrency regulatory paradigm in the country.
Eliminating Anonymous Crypto Trading
Anonymous trading accounts remain a critical issue as far as the crypto market in …

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