The south Korean government had, for the first time data on the total amount of trustee deposits made during exchanges of crypto-currencies. At the end of last year, the amount of the deposits was 64 times higher than the previous year. On the 1st January, the service that south Korean financial supervisory or FSS has finally received the data on the deposits made during the transactions of digital currency in 2017.
Kevin Schneider, Source : Pixabay
According to the Sedaily, the balance of deposits at December 12, 2017 amounted to more than 1.95 billion dollars. After this media, it is a 64-fold increase compared to last year at the same period. Sedaily revealed that the total amount of deposits in 2014 was 2.35 million and 8.46 million in 2015.
State-owned banks and commercial banks
According to the news agency, approximately $ 1.3 million of these deposits are placed by public banks, such as the industrial Bank of Korea (IBK). The commercial banks reported deposits of nearly $ 698 million last year. The majority of the companies of trade of crypto-currencies in south korea, using commercial banks.
Discover the video of the details of this announcement :
Bithumb uses Nonghyup Bank and Shinhan Bank. For Kobit, it is Shinhan Bank and Nonghyup Bank for Coinone. In addition, the newcomer Upbit uses IBK.
The authorities want to quickly respond
The deputy democrat and member of the House of representatives of the national Assembly, Park Yong-Jin, has obtained the data shown above. It has thus given his comments in the face of this explosive growth. According to sources, they would have stated that the risk of losing assets will increase if there is a problem with the stock exchanges.
In August, Park has submitted a proposal of law aiming to regulate the market of crypto-currencies in South Korea. Moreover, this draft law has not been adopted.
Source : NewsBitcoin