South Korean Official Calls for Cryptocurrency Regulation to the World

South Korea’s Financial Services Agency (FHD) official has called for international cooperation on cryptocurrency and ICO regulations.

At CoinTelegraph According to the news, Yoon Suk-heun, the manager of FHD, the institution that manages the financial regulations of South Korea, made a speech at a conference attended by the authorities of 15 countries, stating that cooperation should be made among the participating countries in order to keep cryptocurrencies under control.

Speaking at the Financial Supervision Conference, Suk-heun emphasized that countries should act together to prevent a rising problem such as money laundering with cryptocurrencies.. Drawing attention to the necessity and urgency of international cooperation, the regulator stated that ensuring transparency in crypto money transactions is their main goal. He drew attention to the need to take control over the issue.

Officials of 15 Countries Participate in the Conference

Among the 15 countries participating in the Financial Audit Conference, South Korea, Japan, Australia , Singapore, Canada, England, Germany, Netherlands, Austria, Switzerland, Norway, Sweden, Hungary, Iceland, Denmark and Ireland. It is stated that decisions are also made on behalf of the future and supervision of the financial industry and insurance companies.

South Korea has a generally positive attitude towards cryptocurrencies and blockchain.. Because, the country authorities recently visited the Zug region of Switzerland, also known as the “Crypto Valley”, and announced that they started researches in order to expand the real-life usage areas of technology.

Despite this positive attitude, money laundering with crypto money in the country. and the fact that users were victims after the cyber attacks on the stock markets pushed the country authorities to take harsh regulations, and many crypto currency exchanges have been under strict control since January. Follow on Twitter, like our Facebook page and join our Telegram channel!