South Korea’s Financial Transaction Reports Act is requiring all crypto exchanges to register with the Financial Services Commission (FSC) around the 24th of September. The action was caused by the country’s anti-money laundering and know-your-customer policy. crypto exchanges need to register with local banks and set up real-name accounts for their customers. Experts are saying that it could wipe out around $2.6 billion worth of digital assets.
How do you think this will affect BTC in South Korea and WorldWide in General?
Also, as we have already seen, more and more countries are moving towards BTC acceptance, Ukraine and El Salvador are the major examples of it.
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