Seems like S Korea are implementing a quite strict "walling" of crypto both geographically and financially. So interacting with exchanges/vasps will be limited to domestic regulated entities and on/off ramp will be through domestic bank arrangements. That, to me, implies some strict KYC/AML compliance that users will need to abide by in order to play.
I think it's good to pay attention to how different jurisdictions are regulating as it informs about what to expect more widely as time goes on. Singapore, Japan, S Korea and HK are worth watching in that regard.
SovereigntyQuest
npub16a…hh4dp
2024-01-04 08:36:32
in reply to nevent1q…3n3j
Author Public Key
npub16afkyc9c3nm7tnplef8cyfq0xs4upxrk9nems4w46aj70ry4mh9slhh4dpPublished at
2024-01-04 08:36:32Event JSON
{
"id": "964af3247cc14b9a5a9660d7ba2fd13e9d300ba7d59444ca37c62209979579e5",
"pubkey": "d7536260b88cf7e5cc3fca4f82240f342bc098762cf3b855d5d765e78c95ddcb",
"created_at": 1704357392,
"kind": 1,
"tags": [
[
"e",
"933f886f320aa4dd4b1c9672422c33b4fa9b9321c043f9913d2d54d47ab800c9",
"wss://offchain.pub/",
"root"
],
[
"p",
"5e5fc1434c928bcdcba6f801859d5238341093291980fd36e33b7416393d5a2c"
]
],
"content": "Seems like S Korea are implementing a quite strict \"walling\" of crypto both geographically and financially. So interacting with exchanges/vasps will be limited to domestic regulated entities and on/off ramp will be through domestic bank arrangements. That, to me, implies some strict KYC/AML compliance that users will need to abide by in order to play. \n I think it's good to pay attention to how different jurisdictions are regulating as it informs about what to expect more widely as time goes on. Singapore, Japan, S Korea and HK are worth watching in that regard. ",
"sig": "01443471a9875e0c23fef2b8bbd25e85c133e5a4fbf9a1d80de435dda263c59a1af159b75826e6b90a07abe9d0d49873bdd24013dc21dae82e92a8b83bfe332e"
}