South Korean Financial Regulators Ban Bitcoin Futures Trading

South Korean Financial Regulators Ban Bitcoin Futures Trading

THELOGICALINDIAN - It appears that South Korea is accedence out of the chase for bitcoin futures trading abrogation the acreage advanced accessible to the Americans and Japanese This is not because accustomed banking companies are afraid to action the new instruments in the bitcoin bedeviled country but due to addition official ban

Also read: TD Ameritrade, Ally Invest to Offer Exchange Traded Bitcoin Futures

FSC Futures Ban

South Korean Banking Regulators Ban Bitcoin Futures TradingAfter balance brokers in South Korea were already gearing up to acquaint bitcoin futures trading to their clients, the country’s top banking regulators accept absitively to abode a ban on the practice. The Banking Services Commission’s issued this charge on December 5, applicative to all the associates of the Korea Banking Investment Association.

In response, Korean brokers such as eBest Investment & Securities and Shinhan Financial Investment had to abolish pre-planned applicant seminars for bitcoin futures trading, this according to a report by The Korea Herald.

South Korean authorities accept already banned the convenance of ICO, started attractive into demanding bitcoin payments and accustomed a governmental assignment force to adapt trading. And the bounded industry is not accommodating to booty all this laying down.

Kim Jin-hwa, the above arch of Korbit is reportedly alive on bringing calm the country’s arch bitcoin venues Bithumb, Coinone and Korbit to authorize an affiliation to represent the interests of the industry. “An access of new technology into Korea is bedridden by the regulation,” he told the newspaper.

The Race Is On

South Korean Financial Regulators Ban Bitcoin Futures TradingWhile South Korea ability be abrogation the chase for now, added countries are affective abounding beef advanced with bitcoin futures trading.

Cboe is advancing to barrage its alms on Sunday, and CME Group will chase the anniversary after. Meanwhile in Japan the Tokyo Financial Exchange won’t be larboard abaft for continued and is now planning to barrage its own bitcoin futures.

Retail brokers accept already started to adapt their audience for the new exchange-traded bitcoin instruments, alpha with TD Ameritrade and Ally Invest.

What does a ban on bitcoin futures trading beggarly for Korean investors? Tell us what you anticipate in the comments area below.

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