PANews reported on January 20th that, according to the Korea Herald, South Korean financial authorities are pushing forward with reforms to the digital asset regulatoryPANews reported on January 20th that, according to the Korea Herald, South Korean financial authorities are pushing forward with reforms to the digital asset regulatory
South Korea plans to remove the "one exchange, one bank" restriction, promoting the legalization of cryptocurrency derivatives trading with corporate accounts.
PANews reported on January 20th that, according to the Korea Herald, South Korean financial authorities are pushing forward with reforms to the digital asset regulatory system, planning to abolish the "one exchange – one bank" binding restriction and allow the issuance of crypto derivatives and participation in trading by corporate accounts, in order to break the current market monopoly structure and promote liquidity. Regulators believe that although this restriction is not legally mandatory, it has long been in place due to anti-money laundering requirements, limiting competition among exchanges and user choice. Subsequent policies will be incorporated into the second phase of legislation for the Digital Asset Basic Law, and both parties in the National Assembly have reached a consensus on some aspects of regulatory easing.
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