South Korea’s Financial Services Commission (FSC) wants to prevent investors from purchasing cryptocurrencies via credit cards.
South Korea reacted to the transactions made by cryptocurrency investors via credit cards. The country’s Financial Services Commission is responsible for such transactions. illegal and money laundering transactions While stating that it made it easier, stock exchanges abroad were especially targeted.
Cryptocurrency users on foreign exchanges restricting transactions via credit cards the intended commission, until February 13 will collect public feedback on the amendment proposal. According to local news agency Yonhap, the commission will take action after the feedback and close the application in question. In the first half of 2024 will implement it.
In the country 2021 Under the regulations made in 2018, local exchanges will be able to provide services from fiat to cryptocurrencies, including partnering with a local bank. strict licensing rules was brought.
On the other hand, there are requirements for South Korean cryptocurrency investors to trade through local exchanges with their verified accounts.