What are the regulations for OTC crypto trading in Korea?

3 answers

• Dec 25, 2021 · 3 years ago
  In Korea, OTC crypto trading is subject to certain regulations to ensure transparency and protect investors. Traders and exchanges must comply with the Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements. These regulations aim to prevent illegal activities such as money laundering and terrorist financing. Additionally, exchanges need to obtain licenses from the Financial Services Commission (FSC) and adhere to strict reporting and auditing standards. It is important for traders to be aware of these regulations and choose reputable exchanges that prioritize compliance and security.
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• Dec 25, 2021 · 3 years ago
  OTC crypto trading in Korea is regulated to maintain the integrity of the market and protect investors. Traders and exchanges are required to follow AML and KYC procedures to verify the identity of their customers and prevent illicit activities. The FSC oversees the licensing and supervision of crypto exchanges, ensuring that they meet the necessary standards. By adhering to these regulations, Korea aims to create a safe and transparent environment for cryptocurrency trading.
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• Dec 25, 2021 · 3 years ago
  As an expert in the field, I can tell you that OTC crypto trading in Korea is subject to strict regulations. Traders and exchanges must comply with AML and KYC procedures to prevent money laundering and ensure the legitimacy of transactions. The FSC plays a crucial role in overseeing the industry and ensuring that exchanges operate within the legal framework. It is important for traders to choose exchanges that prioritize compliance and security to protect their investments.
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