South Korea Sets Up Cryptocurrency Division
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South Korea’s Financial Services Commission (FSC) recently announced that it is setting up a Financial Innovation Bureau which will be responding to new developments and challenges such as cryptocurrencies.
It will also be given oversight on policy initiatives relating to FinTech and big data in the future.
Analysts attribute this to the country’s change in stance regarding cryptocurrencies in recent months, where the government now says that cryptocurrency exchanges as actual legal entities, instead of just “communication vendors”.
Source: Investing.com