The perception of virtual assets that are recognized as a means of 'speculation' is gradually changing. The decline in cash value accelerated by Covid-19 is being transferred to virtual assets including bitcoin (BTC), an alternative asset.
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While the government is collecting opinions from industry and experts for amendment of the enforcement decree until the 14th in accordance with the enforcement of the Specific Financial Transaction Information Act revised in March next year, it is clear about the issuance of real name verification accounts for investment in virtual assets and prevention of money laundering (AML). There are constant criticisms that it is confusing because there is no standard.
In March 2021, amendments to the Special Financial Information Act that regulates virtual asset business operators are in effect, and a clause prohibiting cross-transaction under the Special Financial Information Act, i.e., prohibiting sharing of order books (trading ledgers), caused the outflow of local wealth.
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AuthorDongWon KWAK. Korea Venture Capital and Startup Expert. Archives
January 2023
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