South Korea Eyes Ban on Credit Card Purchases of Cryptocurrency to Combat Illegal Outflows

South Koreas top financial regulator, the Financial Services Commission (FSC), has proposed to amend the countrys credit finance laws. The aim is to prohibit local citizens from using credit cards to purchase cryptocurrency. The FSC, Cointelegraph reported, has expressed concerns over potential illegal outflows and money laundering associated with South Korean citizens buying cryptocurrency from foreign exchanges. Addressing Concerns and Risks The FSC highlighted several concerns that have prompted this proposal. These include the potential for illegal outflows of domestic funds...


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