BY: Sandeep Bishnoi
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8 Key Points About the FSC's Regulatory Proposals
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– FSC proposes prohibiting credit card purchases of cryptocurrency in South Korea.
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– New regulation requires crypto exchanges to store 80% of customer deposits in cold wallets.
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– New rules propose compensating customers for exchanges using their deposited funds.
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– Proposed regulations reflect growing focus on protecting crypto investors.
– Cold wallet implementation and deposit usage fees may raise operational costs.
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– Regulatory landscape for crypto evolving worldwide.
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– Effectiveness of proposed regulations yet to be tested.
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