South Korea has begun considering rules that could allow fintech firms, not just cryptocurrency exchanges, to participate in a new licensing regime for cross-border digital asset transfers scheduled to take effect in December.
Summary
- South Korea is considering allowing fintech firms to join a new virtual asset transfer licensing regime set to take effect in December.
- Companies approved under the framework will be able to offer blockchain based cross border remittance and foreign exchange services under formal regulatory oversight.
Officials from relevant government agencies and industry participants told local media that authorities have started drafting enforcement…
