Financial regulators in south korea forbid the trading of futures contracts of Bitcoin

It seems that South Korea withdraws from the race for the trading of futures contracts of Bitcoin, leaving the field open to the Americans and the Japanese. This is not because the financial companies are established are reluctant to offer new instruments in the country that is obsessed with the Bitcoin, but by reason of another official ban.


South Korea has decided to rein in futures of Bitcoin

While securities dealers, south koreans were already to introduce the trading of futures contracts of Bitcoin from their customers, the principal financial regulators of the country have decided to ban the practice. The financial services Commission has published this directive on 5 December. It is applicable to all the members of the Korea Financial Investment Association. IN response, the brokers Korean such as eBest Investment & Securities and Shinhan Financial Investment have had to cancel seminars pre-planned of customers for the trading of futures contracts of the Bitcoin.


South Korea does not depart from its policy

The south Korean authorities have already banned the ICO, which began to tax the transactions of Bitcoins and created a government working group to regulate the trade. Kim Jin-Hwa, the former chief of Korbit, would work to bring together key sites of Bitcoin in the country as Bithumb, Coinone and Korbit, in order to create an association representing the interests of the industry. “The entry of new technologies in Korea is hampered by the rules,” he told the newspaper Korea Herald. While South Korea might be leaving the race for the moment, other countries are moving at any speed in terms of a futures contract for Bitcoin.

Source : News.Bitcoin