Cryptocurrency Regulation in South Korea EXPLAINED

[Hexlant_Won]

Hello!

My name is Won from Hexlant, a blockchain tech & service company based in South Korea. We have an in-house research center that focuses on providing in-depth insights on the blockchain market.

Our team has written a paper entitled: “Analysis of the Regulation of Virtual Assets under the Act on Reporting and Using Specified Financial Transaction Information”. The paper mainly covers the domestic (South Korea) blockchain scene and its regulations. We hope this research can provide general insights on the Korean blockchain market and its regulations to foreign readers.

The research paper is available at
drive.google.com/file/d/1foc2If9h2aXA98cH3wJMUgqnjz1M_ZQf/view

Briefly, in anticipation of amendments to the Act on Reporting and Using Specified Financial Transaction Information, which was introduced to meet international standards set by the Financial Action Task Force, the industry in South Korea was busy addressing the prospect that the amended Act will apply to cryptocurrency exchanges, virtual wallets, custody solutions, and other related service providers.

Hexlant and Bae, Kim & Lee LLC have conducted joint research and have prepared this joint report on the basis of in-depth market analysis, with an intent to provide businesses with guiding materials in their decision-making process.

Any comments are welcome. I would like to hear your thoughts on this.

[mlawson71]

Thank you so much for writing this!