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November 22, 2016, 05:38:53 PM |
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Financial Services Commission of South Korea (FSC) established a working group to design the regulatory framework for Bitcoin companies and users. The Government argues that the legislation will be introduced by the first quarter of 2017.
Several meetings have taken place since the first announcement of a possible introduction of Bitcoin stabilize the FSC. South Korean media reported that the working group decided to design its regulations-based regulatory Bitcoin in Japan and the United States
Although the rules vary considerably according to the US states, Japan has a uniform regulatory framework that Bitcoin startups are forced to work to obtain licenses. This means that in early 2017, startups and South Korean Bitcoin exchanges, including Tim Draper supported Coinplug and Softbank invested Korbit will face a BitLicense-like regulation.
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