South Korean government to illegalize cryptocurrency trading. BUT don't PANIC.

Hello, I'm korean and and this is the latest Korean news regarding crypto regulations.

South Korean government to ban cryptocurrency trading. but don't panic and HODL. South Korean people will still legally be able to trade and cryptocurrency as before. They will not shut down the current Korean crypto exchanges as long as they meet the government's seven requirements. the exchanges will have six months to conform the new law. (deposit requirements, duty to explain the risk, real name check, money laundering prevention system, multiple private key backup storage requirement. etc..)

so main idea of the new law is to protect people from scams and fake crypto exchanges.

http://ift.tt/2BSeWaT

submitted by /u/motivr
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