South Korea Imposes New Rules For Cryptocurrency Trading

In an effort to clamp down on crimes related to virtual currencies, South Korea has imposed strict new rules for exchange operators, cryptocurrency purchasers, and financial institutions. Highlights of the rules include AML/KYC rules for exchanges, a prohibition of trading by foreigners and minors, security measures to prevent leaks of personal information, and a continued ban on ICOs. It does not prohibit or pause trading of cryptocurrencies.

The information was leaked ahead of the official announcement and the Prime Minister’s office is in the process of investigating the leak.  The new cryptocurrency rules can be found here.