It would come out as a shock, but the telecommunications and mobile manufacturing giant has earlier invested a lot of money into many funding rounds into the crypto market, decentralization, and blockchain technology. It has bought shares into multiple projects and has started taking an interest in active crypto trading and whatnot. It seems that the mobile giant is taking some interest in the crypto market. There is also news of Samsung having to either invest or launch its own private crypto exchanges in the coming year.
South Korean giant has even enabled its own securities company, and with Mirae Asset securities is going to take part in the initiative of launching their own private crypto exchanges in 2023.
South Korean space has been extremely tight around the events of launching securities and other crypto-oriented offerings within the country. According to a report, the financial intelligence unit has been quite strict with these elements in South Korea, and as a result, more than 60 different trading firms have halved their operations within the country.
South Korean Regulatory Oversight
It isn’t like this is taking place out of the blue, as these are reputed companies that are joining the game. They might be a bit late, but better late than never, right? They might have a complete set of operations and detailed steps lined up for the process to begin and for the exchanges to begin their operations.
They are not only fully invested in the crypto space but are also scouting the law and regulatory space of the country to know about each and everything before they even begin on this route.
There is the news according to which the regulatory commissions within the country are demanding that each and every person who wants to embark on the mission of interacting with the crypto space and launch their own private operations of any kind must get proper licensing or otherwise, they won’t be allowed to tackle any such offerings at all. According to an official statement, the whole process of tackling this scenario is being discussed at length at the moment, and once things are finalized, the whole thing could be mobilized.
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