2018-6-21 07:04 |
Regulation
Following multiple hack reports, the South Korean government explains how it will strengthen the regulatory framework for cryptocurrency exchanges.
A bill has already been submitted which imposes multiple new obligations on crypto exchanges.
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Korean Government’s Solution
Following recent reports of multiple security breaches at cryptocurrency exchanges, the South Korean government has revealed the details of the new bill to regulate crypto exchanges, local media report.
On Tuesday, June 19, South Korea’s second largest crypto exchange, Bithumb, posted a notice on its website and tweeted that about 35 billion won (~US$31 million) worth of cryptocurrencies was stolen.
However, the exchange promptly removed the notice and deleted its tweets about the theft shortly afterward.
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