South Korea has quickly become one of the central countries associated with Bitcoin trading. Various South Korean exchanges are thriving as we speak. While this ecosystem is booming, the nation’s regulators are trying to assert control.
More specifically, following a meeting with the International Monetary Fund, the South Korean government plans to increase its supervision of cryptocurrency transactions. This is all part of a major financial reform package affecting the country in the years to come.
No one can deny South Korea has become an integral part of all Bitcoin trading activity as of late. Bithumb, Coinone, and Korbit are very popular exchanges when it comes to cryptocurrency.
However, the country’s government is in the process of introducing nationwide financial reforms. After sitting down with the IMF to discuss opportunities and a plan of action, it appears the government’s next goal is to supervise cryptocurrency-related activities in the country.