South Korean regulatory plans to tackle cryptocurrency speculation spooked investors earlier this month. But as the new rules take effect on Tuesday, participants in the market are sounding a positive note.South Korea’s Financial Services Commission on Tuesday confirmed to CNBC that new measures outlined by the body earlier this month had been implemented, but a spokesperson said in an email that it was still too early to discuss any effects of those rules.In a document published on Jan. 23, the regulator said it would only allow trade in cryptocurrencies from real-name bank accounts beginning Jan. 30. Those rules enabled banks to comply with their KYC AML (know your customer, anti-money laundering) obligations, the document said.
Source: South Korea cryptocurrency regulations come into effect – CNBC
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