According to China Money Network, local media reported that Korean regulators have agreed to apply the Financial Action Task Force’s standards to its own cryptocurrency policies.
Stated South Korea’s Financial Supervisory Service (FSS):
“It’s almost certain that cryptocurrencies will be classified as assets and the main issue will be centered on how to regulate them properly under the unified frame that will be agreed upon between G20 nations. Given the current stance, this isn’t good, but we will step up efforts to improve things.”
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