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South Korea Tightens Crypto Credit Card Rules, Seeks Public Opinion

2024/01/04 17:17

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Strategic FSC Move

The Financial Services Commission (FSC) of South Korea takes a decisive step. They plan to restrict credit card usage for purchasing cryptocurrencies. This move specifically targets transactions on foreign exchanges. The FSC's aim is clear: to prevent illegal money outflows and dampen speculative trading in cryptocurrencies.

Focus on Foreign Transactions

A major aspect of this initiative is curbing the use of credit cards for international crypto transfers. The FSC is particularly focused on money laundering and speculative activities.

Involving the Public

Public opinion plays a key role in this development. The FSC has set a deadline until February 13, 2024, for receiving feedback. This approach is to ensure a diverse range of viewpoints.

Implementation of the new policy is scheduled for the first half of 2024. Citizens and organizations are encouraged to voice their opinions online.

Clarifying Crypto Wallet Regulations

A noteworthy clarification comes from South Korea's National Tax Service. Decentralized crypto wallet holders, including cold wallet users, receive good news. They are exempt from declaring these wallets as overseas financial accounts.

Dapatkan pemahaman yang lebih luas tentang industri kripto melalui laporan informatif, dan terlibat dalam diskusi mendalam dengan penulis dan pembaca yang berpikiran sama. Anda dipersilakan untuk bergabung dengan kami di komunitas Coinlive kami yang sedang berkembang:https://t.me/CoinliveSG

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