SovereigntyQuest on Nostr: Seems like S Korea are implementing a quite strict "walling" of crypto both ...
Seems like S Korea are implementing a quite strict "walling" of crypto both geographically and financially. So interacting with exchanges/vasps will be limited to domestic regulated entities and on/off ramp will be through domestic bank arrangements. That, to me, implies some strict KYC/AML compliance that users will need to abide by in order to play.
I think it's good to pay attention to how different jurisdictions are regulating as it informs about what to expect more widely as time goes on. Singapore, Japan, S Korea and HK are worth watching in that regard.
Published at
2024-01-04 08:36:32Event JSON
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"pubkey": "d7536260b88cf7e5cc3fca4f82240f342bc098762cf3b855d5d765e78c95ddcb",
"created_at": 1704357392,
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"content": "Seems like S Korea are implementing a quite strict \"walling\" of crypto both geographically and financially. So interacting with exchanges/vasps will be limited to domestic regulated entities and on/off ramp will be through domestic bank arrangements. That, to me, implies some strict KYC/AML compliance that users will need to abide by in order to play. \n I think it's good to pay attention to how different jurisdictions are regulating as it informs about what to expect more widely as time goes on. Singapore, Japan, S Korea and HK are worth watching in that regard. ",
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}
