South Korea will adopt “reasonable” regulations for cryptocurrency exchanges but not ban them, sources report Tuesday.
‘REASONABLE REQUIREMENTS’
Uploading information from local news outlet Daum.net, Stellar co-founder Joyce Kim confirmed that contrary to previous beliefs, trading would remain legal in the country.
“The Korean (government) will regulate bitcoin exchanges but not ban them,” Kim wrote on Twitter late Monday.
Exchanges will have 6 reasonable requirements on KYC/AML, key storage, separation of fiat into 3rd party accounts, consumer warnings (about) trading, transparency of orderbook.
http://bitcoinist.com/south-korea-regulate-not-ban/