South Korea inspects six financial institutions over customers’ virtual currency accounts

South Korea inspects six financial institutions over customers’ virtual currency accounts

On Monday, South Korea's financial regulator told that it’s jointly executing inspections on six local financial institutions, offering virtual currency accounts to businesses amid soaring concerns that the most active use of assets like bitcoin could provoke a leap in crime.

The joint inspection by the Financial Services Commission as well as and Financial Supervisory Service is going to scrutinize if the country’s banks are adhering to anti-money laundering regulations and utilizing real names for accounts. That’s what FSC Chairman Choi Jong-ku informed at a press conference.

 Choi stressed that virtual currency can’t function as a means of payment now, and it’s being employed for illegal purposes like scams, money laundering and fraudulent investor operations.

As for the side effects, they’re severe enough, causing hacking issues at the institutions, which handle cryptocurrency, as well as an unreasonable jump in speculation.


British inflation speeds down in February

In February, British inflation turned to be weaker than anticipated because the impact of the 2016 Brexit vote vanished, relieving some of the squeeze on British households' spending power, although doing little to alter bets on a BoE rate lift in May…


Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera