South Korea’s Financial Services Commission, the country’s top financial regulator, today proposed an amendment to its credit finance act, which aims to effectively prohibit local citizens from purchasing cryptocurrencies using credit cards.
The main reason for this new amendment is to limit its crypto traders from buying crypto on foreign crypto exchanges, the regulator said. The FSC noted in its legislative notice that concerns have emerged over the illegal outflow of domestic funds, money laundering and the encouragement of speculative behavior, which led to the decision.
The regulator plans to collect public feedback on the amendment proposal until Feb. 13. It’s expected to be reviewed and voted on with the aim of implementation in the first half of 2024, according to Yonhap News Agency.
The main reason for this new amendment is to limit its crypto traders from buying crypto on foreign crypto exchanges, the regulator said. The FSC noted in its legislative notice that concerns have emerged over the illegal outflow of domestic funds, money laundering and the encouragement of speculative behavior, which led to the decision.
The regulator plans to collect public feedback on the amendment proposal until Feb. 13. It’s expected to be reviewed and voted on with the aim of implementation in the first half of 2024, according to Yonhap News Agency.
GLOBAL MARKETS - In a move that has caught the attention of the cryptocurrency community, a wallet associated with Satoshi Nakamoto, the pseudonymous creator of Bitcoin, received nearly 27 BTC, valued at approximately $1,191,134. This transaction comes amid heightened speculation and has sparked conversations about the potential impact on market dynamics.
The transfer to Nakamoto's wallet occurred on the same day that a significant amount of Bitcoin was moved from Binance, one of the world's largest cryptocurrency exchanges. This has led to various theories about the sender's identity and the reasons behind the transaction. Some suggest it might be connected to the anticipation surrounding a U.S. Bitcoin Exchange-Traded Fund (ETF), while others believe it could be in celebration of Bitcoin's mainnet anniversary.
Historically, activities involving early Bitcoin wallets have led to increased market volatility.
The transfer to Nakamoto's wallet occurred on the same day that a significant amount of Bitcoin was moved from Binance, one of the world's largest cryptocurrency exchanges. This has led to various theories about the sender's identity and the reasons behind the transaction. Some suggest it might be connected to the anticipation surrounding a U.S. Bitcoin Exchange-Traded Fund (ETF), while others believe it could be in celebration of Bitcoin's mainnet anniversary.
Historically, activities involving early Bitcoin wallets have led to increased market volatility.
Shiba Inu development team made a historic announcement. They announced the planned burning of 9.25 trillion SHIB coins. This decision aims to significantly reduce the circulating supply of the popular meme coin, potentially triggering an upward movement in its value before the anticipated bull season.
https://en.coin-turk.com/shiba-inu-development-team-announces-historic-token-burn-plan/?utm_source=coingecko&utm_content=coingecko&utm_campaign=coingecko&utm_medium=coingecko&utm_term=coingecko
https://en.coin-turk.com/shiba-inu-development-team-announces-historic-token-burn-plan/?utm_source=coingecko&utm_content=coingecko&utm_campaign=coingecko&utm_medium=coingecko&utm_term=coingecko