SOUTH KOREA Has Legalized "BITCOIN"

Ordinary.dh - The moment most awaited for both the user and the trader Bitcoin has finally come. South Korea has been officially legalize Bitcoin transfer international and preparing the regulatory framework for the exchange platform and trading Bitcoin.

Source: https://goo.gl/1EcAuh

On 3 July, Representatives of Park Yong-jin of the Democratic Party of Korea revealed that South Korean government is ready to regulate the Bitcoin market. According to Park, he filed three revision to establish a regulatory framework for users and Bitcoin businesses in order to further facilitate the growth of the market and the Bitcoin industry in South Korea.

Park submit one of the request to the financial regulator of South Korea, asking for the business and trade platform of Bitcoin to maintain a minimum capital of $ 436.000 and available facilities of data processing to Know your Customer (KYC) and Anti-Money Laundering (AML).

Users who do not have an account at the same bank as the virtual bank will not be able to make additional payments to the virtual bank [account], but they can withdraw money…Foreigner and minors under the Civil Law cannot use real name confirmation deposit and withdrawal account service.

Source: https://goo.gl/1EcAuh

Based on market data Bitcoin exchange in South Korea, the country that is now processing more than 14 percent trade Bitcoin global, occupying the third largest market behind the U.S. and Japan.

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Source : https://goo.gl/1EcAuh