FBS received the Best Forex Broker Thailand 2021 award
All exchanges have a tendency to suspend trading of cryptocurrencies with low market capitalization. The latest delisting by South Korean exchanges of a variety of tokens shows their eagerness for regulators to approve them.
What is the burden on small players?
The sole regulator of South Korea’s cryptocurrency exchanges is the South Korean Financial Services Commission (FSC). The government required all new exchanges to register with the regulator and keep real-name bank accounts for all clients. Existing exchanges must also comply with the revised framework by December’s deadline, which was recently extended.
The regulator is also seeking information from banks to find out if any non-compliant exchanges are operating on the local market. The FSC also ordered banks to take cryptocurrency traders into account and mandated ID verification.
Only four of the major South Korean crypto exchanges have real-name accounts. The smaller ones are having trouble finding banking partners.
Coincheck commented on the structure and benefits of an initial exchange offer. An IEO (initial coin offering) is a form of initial coin offerings (ICO). It allows companies or projects to issue utility tokens electronically in order to obtain funds. A cryptocurrency exchange then acts as the primary party for selling the tokens. Companies and projects can issue tokens that enable the creation of open, decentralized networks. Users, developers, investors, and service providers from all over the globe can use these tokens to build their networks. As a way to offer incentives to network participants, they have been much in demand in recent years.
Coincheck announced in February 2021 the acquisition Metaps Alpha. This was a blockchain company that offers an on-chain NFT marketplace called “miime” since September 2019. It is an attempt to expand its NFT marketplace.
Monex Group is Japan’s leading financial services provider. Coincheck is a Monex Group subsidiary. Monex Group highlighted the significant contribution that cryptocurrency businesses make to the Group’s overall profitability in its latest financial results. Monex Group published the Global Retail Investor Survey results in December 2020. It noted that 16.2% of Japanese investors have active cryptocurrency investments. The results also showed a record number of active cryptocurrency investors based in the USA.