Of the 33 kryptomere South Korea, which, with the participation of the Commission on fair trade (KFTC) reviewed the standards of self-regulation in the framework of the Korean Association of the blockchain, 10 refused to follow the new rules and was expelled from the organization. According to the head of the organization Committee, which is responsible for the direction of self-regulation, Jung Jae-CSE (Jeon Jae-jin), the priority of the authors of these rules was the creation of a safe and transparent environment for users of the cryptocurrency.
Among the 23 kryptomere, which adopted the rules, entered Glosfer, Nexcoin, Neoframe, Upbit, Bithumb, Gopax, Coinlink, Scoin, Okcoin Korea, Whalex, Zeniex, Kairex, Kcx Exchange, Komid, Korbit, Coinone, Coinzest , Coinplug, Crypto Company, Dexko, Korea Encryption, Money Exchange and Huobi Korea. Now to be checked by the KFTC in relation to the security and protection of customer funds. After the entry into force of the new rules of self-regulation in the blockchain Association intend to convert to banks with the request to allow to open a virtual account small and medium-sized exchanges.
We will remind that in the beginning of the month the fair trade Commission ordered the 12 cryptocurrency exchanges to review the contract on joining to ensure the best protection of consumers. And earlier this year the financial services Commission of South Korea has banned local banks to provide virtual account cryptocurrency exchanges to prevent money laundering through crypto-currencies.