Tuesday, January 31, 2023

Korea to impose additional regulatory curbs on cryptocurrency trading, prices nosedive


정부 “가상화폐 투기근절 특별대책 추가 시행”
Quite stunning scenes on South Korea’s cryptocurrency exchanges this morning as prices fell of a cliff after the government made a surprise announcement.
It plans to require real-name transactions in cryptocurrency trading starting next month,… banning the use of anonymous virtual accounts– to regulate what they see as out of control speculation.
The government policy coordination minister said Thursday that only *real-name bank accounts and matching accounts at exchanges can be used for deposits and withdrawals.
And the issuance of new accounts at cryptocurrency exchanges will be banned for good,… as the government said it (quote) “cannot let this abnormal situation of speculation go on any longer.”

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