Korea to legitimize crypto market to control the industry and prevent crimes

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4 months ago
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The South Korean financial authorities are planning to adopt the first legislation concerning virtual currencies in the nearest future: the main aim for the regulation is preventing hacker attacks and having control over the crypto market.

The regulatory framework that is now being developed will allegedly cover a wide range of cases – from crypto exchanged to blockchain companies and even mobile applications.

This summer, two major South Korean crypto exchanges were victims of hacks, loosing millions of users’ money.