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And they do. This is what prompted South Korea to revisit talks of a ban on cryptocurrency exchanges. The FSS Governor Choi Heung-sik, announced the commission will investigate claims some FSS staff members, knowing about the upcoming potential ban, sold off mass cryptocurrency. Insider trading was bound to hit the crypto market, and now that it has, South Korea is scrambling to pick up the pieces.
Governor Choi has backpedaled a bit in suggesting perhaps instead of banning exchanges, only those who violate law need to be weeded out.
This breathes life again in a society dependent on cryptocurrency. With high numbers of unemployment, many turned to crypto to financially support themselves.
As different systems of government grapple with regulation of the digital currency; while finding how to best implement its technology to most every facet of big business, the values shall dip and rise. What will South Korea do next? Transfer all holdings to another account. Cyprus securities exchange commission under license cyprus?
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The problem is; it can be an opportunity, but it is korea bitcoin insider trading South Africa also a risk. Sporting legends or team sponsorship is usually fine — and verifiable. Hello I am already excited upon reading about Binary Options. Keep in touch Contact. Yes I korea bitcoin insider trading South Africa agree with you. Koreans have reacted fiercely to attempts by lawmakers to place restrictions on how they may trade cryptocurrencies.
Government statements have contradicted ministerial comments that a full exchange ban is on the cards, but other limitations are set to become law this weekend. A petition to fire ministers responsible for the legislation and reverse the ban has so far gathered over , signatures. All this could lead to serious money outflow and only the government is not aware of it. Insider trading is fine, thisisfine. Is anyone really surprised by this? According to local news media, the government has launched an investigation into the allegations, with a spokesman from the Financial Supervisory Service FSS admitting punishments were not guaranteed.
This, somewhat ironically, is due to the unregulated status of cryptocurrency in South Korea versus more traditional assets. There is no moral or ethical code for virtual currency investment in FSS regulations, so tangible punishment is unlikely to occur at this point.
What do you think about the latest news from South Korea?