South Korea to Lower Capital Requirements for Bitcoin Remittance Businesses

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South Korea to Lower Capital Requirements for Bitcoin Remittance Businesses

The South Korean government is working on lowering the equity capital requirement for fintech companies offering foreign exchange (FX) transfer services, including those using bitcoin for remittances. With the aim “to boost Bitcoin-mediated foreign currency transfer market,” the change will be effective on June 18, according to South Korea’s leading daily business newspaper.

Also read: Why South Korean Bitcoin Adoption Could Outpace Most Other Countries This Year

Lowering Capital Requirements

South Korea to Lower Capital Requirements for Bitcoin Remittance BusinessesMaeil Business Newspaper’s English language website, Pulse News, reported this week that the South Korean Ministry of Strategy and Finance has decided to lower the equity capital requirement for fintech companies offering FX transfer



Read more ... source: TheBitcoinNews

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