WebsCryptoWebsCrypto
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Opinions
  • Guides
  • PR
  • Sponsored
WebsCryptoWebsCrypto
Advertise
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Opinions
  • Guides
  • PR
  • Sponsored
WebsCryptoWebsCrypto
WebsCrypto—News—Business News—South Korean Banking Proposal Proposes Government to Allow Banks to Offer Virtual Assets
Business News

South Korean Banking Proposal Proposes Government to Allow Banks to Offer Virtual Assets

By WebsCryptoMarch 30, 2022
South Korean Banking Proposal Proposes Government to Allow Banks to Offer Virtual Assets
Facebook Twitter Telegram LinkedIn Reddit WhatsApp Email

In a draft banking proposal to be submitted to the Presidential Transition Council recently, the Federation of Korean Banks suggested allowing banks to offer virtual asset businesses.

The proposal states: Amendments to the Act on the Reporting and Use of Certain Financial Transaction Information (Special Act) focus primarily on anti-money laundering and are therefore insufficient to protect users from market instability, such as some virtual asset providers. In order for banks to enter virtual asset-related businesses, he suggested adding the virtual asset industry to the ancillary business of banks under the Banking Act.

In addition, a banking industry official stated that we want to allow banks to operate all types of virtual asset industries as defined in the Virtual Asset Industry Law that will be enacted in the future. It includes all services dealing with virtual assets. It aims to open up new markets as a bank and manage virtual assets through a bank that users can trust.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Related News
Australian Regulator Warns Against FTX Exchange Eight Months Before Its Collapse
Business News January 31, 2023

Australian Regulator Warns Against FTX Exchange Eight Months Before Its Collapse

Bulgarian Prosecutors Deny Political Motivation in Nexo Investigation, Independent Auditor to Conduct Review
Business News January 29, 2023

Bulgarian Prosecutors Deny Political Motivation in Nexo Investigation, Independent Auditor to Conduct Review

Bitcoin Monetary Economist: Circle Is Ceding Some Control of Its USDC Reserves to SEC-Regulated Outside Managers
Business News January 9, 2023

Bitcoin Monetary Economist: Circle Is Ceding Some Control of Its USDC Reserves to SEC-Regulated Outside Managers

Mexican Central Bank Digital Currency Unlikely to Launch by 2024
Market News January 9, 2023

Mexican Central Bank Digital Currency Unlikely to Launch by 2024

Bankman-Fried Fights for Control of $460 Million Robinhood Shares, Claiming They're Necessary for Criminal Defense
Business News January 9, 2023

Bankman-Fried Fights for Control of $460 Million Robinhood Shares, Claiming They’re Necessary for Criminal Defense

Bitcoin's Hashrate Reaches Record-Setting High, Network Difficulty Expected to Follow Suit
Bitcoin News January 8, 2023

Bitcoin’s Hashrate Reaches Record-Setting High, Network Difficulty Expected to Follow Suit

The Latest
Supreme Court To Decide on Panamanian Crypto Bill After Congressional Rejection
Market News February 1, 2023
Supreme Court To Decide on Panamanian Crypto Bill After Congressional Rejection
The Fair Market Value of Bitcoin Held by Tesla in 2022 Is $191 Million, and the Impairment Loss Is $204 Million
Bitcoin News February 1, 2023
The Fair Market Value of Bitcoin Held by Tesla in 2022 Is $191 Million, and the Impairment Loss Is $204 Million
Bitcoin Surges to New Highs, Best January in a Decade
Bitcoin News February 1, 2023
Bitcoin Surges to New Highs, Best January in a Decade
Hermes vs MetaBirkin: Trademark Dispute Over NFT Art Headed to Court in NYC
NFT News January 31, 2023
Hermes vs MetaBirkin: Trademark Dispute Over NFT Art Headed to Court in NYC
Australian Regulator Warns Against FTX Exchange Eight Months Before Its Collapse
Business News January 31, 2023
Australian Regulator Warns Against FTX Exchange Eight Months Before Its Collapse

WebsCrypto contains crypto news about cryptocurrencies, bitcoin, ethereum, altcoins and more.

Facebook Twitter Instagram LinkedIn Telegram RSS
News
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Market News
  • Business News
Information
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Services
  • About Us
  • Contact Us
  • Advertise
© 2023 WebsCrypto.
  • Privacy Policy
  • Terms of Service

Type above and press Enter to search. Press Esc to cancel.