Drawn by bitcoin's explosive surge of more than 15-fold this year, ordinary South Koreans from housewives to college students and office workers have rushed to mobile-app based virtual currency exchanges in hopes of quick profits despite government-issued warnings.
SEOUL: A South Korean blockchain association announced on Friday measures to boost transparency in trading of cryptocurrencies, agreed by 14 exchanges in the country including the world's busiest virtual currency exchange, Bitthumb.
The Korea Blockchain Industry Association said in a statement users would only be allowed to trade virtual currency through one account after their identity has been confirmed via traditional financial institutions like banks.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
