South Korea Blockchain Association has confirmed that it has appropriate security measures and internal management systems for 12 crypto money exchanges including Bithumb and UPbit last week
Various local publications, Bitch, UPbit, Gopax, OKCoin Korea , Korbit, Coineone, CoinZest, CPDAXX, HanbitKor, Huobi Korea and NeoFrame and DexKor are approved by the South Korean Blockchain Association, which monitors the crypto money industry and the Blockchain industry.
Following the announcement of the South Korean Blockchain Association, that it is expected to enter the crypto money market with a new wave of capital with the expectation that it will officially legitimize the money market.
Investors are dissatisfied with the South Korean Blockchain Association
Most investors in South Korea are responding to the South Korean Blockchain Union's approval of Bithumb
In June, Bithumb, South Korea's largest crypto money exchange, suffered a total of over 40 million dollars worth of cyber attacks.
With this unsettling incident, local investors For many years, South Korea's leading cryptographic stock market has begun to lose confidence in Bithumb. Because the stock market has ceased all withdrawal transactions after security breach.
Bithumb's decision to prevent its users from withdrawing their funds caused the government to re-establish the struggle to remove South Korea from the crypto market without getting used to it, which is why it has not survived for about a month.
In a June press conference, Kim Yong-bum, chairman of the Financial Services Commission (FSC), said:
The government's practical policies led to the disappearance of Kimchi Premium in South Korea. The top performing local crypto money market "Kimchi Premium" has reached 50 percent due to unusual growth in demand and speculation. At present, the price of crypto money is almost the same as other markets that show stability in the South Korean crypto money market.
The overall outlook looks positive
The South Korean Blockchain Association's announcement does not refer to its business practices and operations,
With the release of the findings of the South Korean Blockchain Union, the South Korean government plans to tighten regulations in the local cryptographic exchange market and the Blockchain sector to further streamline the growth of new companies and companies that are working to advance the crypto money market.
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