Strategic FSC Move
The Financial Services Commission (FSC) of South Korea takes a decisive step. They plan to restrict credit card usage for purchasing cryptocurrencies. This move specifically targets transactions on foreign exchanges. The FSC's aim is clear: to prevent illegal money outflows and dampen speculative trading in cryptocurrencies.
A major aspect of this initiative is curbing the use of credit cards for international crypto transfers. The FSC is particularly focused on money laundering and speculative activities.
Public opinion plays a key role in this development. The FSC has set a deadline until February 13, 2024, for receiving feedback. This approach is to ensure a diverse range of viewpoints.
Implementation of the new policy is scheduled for the first half of 2024. Citizens and organizations are encouraged to voice their opinions online.
A noteworthy clarification comes from South Korea's National Tax Service. Decentralized crypto wallet holders, including cold wallet users, receive good news. They are exempt from declaring these wallets as overseas financial accounts.
Many people are using the MasterCard U card. Can I use it? Will using a U card to withdraw money prevent my card from being frozen?
JinseFinanceSouth Korea plans to impose restrictions on cryptocurrency users, preventing them from engaging in trading activities on foreign exchanges.
ZoeyThe country's digital asset regulatory body, the National Agency of Perspective Projects (NAPP), has declared JSV "Ravnaq-bank" as a participant in the Special Regulatory Sandbox Regime, according to a press release on August 15, 2023.
BrianElon Musk, the CEO of Tesla, recently praised ARK Invest's analysis as "the best" during the last earnings call on July 20.
Bitcoinist
Coinlive Bybit has introduced a debit card that can be used on the Mastercard network and would deduct cryptocurrency holdings from accounts when making purchases.
Bitcoinist
BeincryptoWe’re saying farewell to the World Economic Forum Annual meeting by demonstrating the real-world utility of crypto payments.
CointelegraphThe official introduction of Cointelegraph France is taking place at the Paris Blockchain Week Summit, a flagship European blockchain event.
CointelegraphUsers can get their cashback reward in over 60 different cryptocurrencies supported by Gemini.
Cointelegraph
