The Korean Financial Services Commission (FSC) announced some additional details of the new real-name system for cryptocurrency accounts on Sunday. “The government plans to require cryptocurrency exchanges to share users’ transaction data with banks,” an FSC official said, as quoted by the Investor.First, the banks collect the ID when they contract with the customer, not the exchange.
Second, if regulators want to track bearer fiat cash, then they should issue finte transaction bearer cash and see that the swandbox will secure it.
They are just now learning how to regulate in the sandbox. They will learn to jump in and play the game.
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