RATE Group | New Law May Kill Smaller South Korean Crypto Exchanges + More News
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New Law May Kill Smaller South Korean Crypto Exchanges + More News

28 Jan New Law May Kill Smaller South Korean Crypto Exchanges + More News

Posted at 16:33h in Cryptocurrency News by

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New Law May Kill Smaller South Korean Crypto Exchanges + More News 101
Source: iStock/Sadeugra

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Exchanges news

  • Smaller South Korean exchanges could be forced to close if the government pushes ahead with plans to impose tighter banking guidelines. Per media outlet Wikileaks Korea, Seoul will likely move ahead with plans to formalize real-name banking protocols – a system that already exists in non-compulsory guideline form but has already been adopted by the country’s four biggest cryptocurrency exchanges. The media outlet claims that many smaller exchanges will simply be unable to cope with the stringent terms banks would likely impose on them. The new law will likely be rubberstamped in May.
  • A New York federal judge ordered the consolidation of the four cases against cryptocurrency exchange Bitfinex and stablecoin Tether (USDT), reports Law360. These cases have overlapping

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