[2017-12-15]Bithumb, Other Korean Exchanges Agree to Regulate Cryptos

[DowBit]

South Korean Blockchain association announced plans to self-regulate ahead of expected government regulations. Fourteen of the country’s cryptocurrency exchanges including industry giant, Bithumb agreed to the rules. The regulations aim to increase transparency and protect investors — as well as get on the government’s good side.

Bitcoin Futures Banned
Government regulators recently banned Bitcoin futures trading fearing a speculative bubble. South Korea is home to one of the world’s biggest bitcoin exchanges, with about two million people estimated to own some of the most famous digital currencies, such as bitcoin and ethereum.

Concerns over consumer protection and the inevitable strong regulatory backlash have prompted industry leaders to introduce the new policy.

More: https://dowbit.com/korean-exchanges-regulate-cryptos/

[BitHodler]

It's not like they have much choice anyway. It's either abide by the rules set by the government, or not be allowed to operate. In all cases they will swallow everything the government throws at them.

I am however not that shocked about the ban of future trading. Allowing institutions to take positions into this market will likely only push Bitcoin further to the next level, potentially at cost of their own economy.

It shows that regardless of how crypto friendly they initially are/were, they still have a line that shouldn't be crossed. South Korea brought us so much growth already, and that without these futures, so nothing is lost.