With the crypto winter, South Korea has decided to implement regulatory measures in the market. She has also done surveys on different platforms. Meanwhile, several brokerage companies have sent requests for approval to create their exchanges.
Seven brokerage companies want to launch crypto exchanges
According to a tweet from Digital Galactics on August 22, Samsung Securities intends to launch cryptocurrency exchanges in South Korea. This subsidiary of Samsung Futures Inc has certainly learned about the market for blockchain-based security tokens. But, it does not yet have the necessary staff to set up a cryptocurrency trading company.
Another brokerage company called Mirae Asset Securities planned to create an exchange. In this context, it has created a subsidiary under an affiliated company called Mirae Asset Consulting. And this company has reportedly started hiring people for research and development, overseeing cryptos and NFTs.
You should know that a total of 7 companies have started the steps to obtain permission to create crypto exchanges. These companies wanted to officially launch during the first half of 2023. It should be noted that only Samsung Securities and Mirae Asset Securities companies were highlighted.
In addition, the South Korean president (Yoon Suk-Yeol) had promised to put in place laws favorable to cryptocurrencies. However, the government has become stricter following the collapse of Terra. To this end, he carried out several raids on exchanges, punishing those who did not register correctly.
The brokerage companies Samsung Securities and Mirae Asset Securities should be able to launch cryptocurrency exchanges in 2023. Note that the South Korean government recently announced that different crypto elements will now be imposed. Among the latter, there are the awards of staking and hard-forked assets.
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Far from having cooled my ardor, an unsuccessful investment in 2017 on a cryptocurrency only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay information related to this ecosystem with my pen.