South Korean authorities will support all legitimate crypto-currency transactions

South Korea will encourage banks to interact with the exchange of crypto currency.

Several unexpected news from South Korea: the head of the Financial Supervision Service of the country, announced that government agencies will "support" all legitimate transactions in the trading crypto-currency space and encourage banks to interact with exchangers.

The authorities of South Korea are gradually relaxing

This rhetoric somewhat deviates from the already familiar repressive tone of the South Korean authorities, which has caused public outrage in recent months.

The other day the government released data showing that the exchangers of South Korea generated taxable income of almost 650 million dollars in 2017 year. Perhaps this served to soften the position of the South Korean government, reports Bitcoinist.

The conflict between the authorities and the crypto community in South Korea has been going on for a couple of months. The authorities wanted to prohibit trade and exchange of crypto-currencies under the pretext of using crypto-currencies in illegal activities.

But so far, regulatory measures have been limited to the introduction of the banking system of control over the turnover of crypto-currencies, however, tight.

Author: Evgenij Novožilov, Analyst Freedman Club Crypto News

Image from Fotolia

Source: Read Full Article

Leave a Reply