Welcome to The Daily Forkast, August 26th, 2021. I’m Angie Lau, Editor-in-Chief of Forkast.News.
Coming up, South Korea reveals its crypto exchange “Death Note”; DeFi investment booms, and a white knight rides in for a hacked Japanese crypto exchange and its users.
Let’s get you up to speed from Asia to the world.
First up, in South Korea, the top financial regulator in the land has issued a so-called “Death Note” of crypto exchanges.
On that “Death Note” – a list of 24 out of 63 exchanges in Korea most likely to close up shop after stricter rules kick in September 24th.
It’s changing the face of the crypto exchange industry in one sudden swoop. And the impact on both the exchanges and crypto investors in South Korea will be dramatic.
Forkast.News Danny Park has more.
The clock is ticking for Korean crypto exchanges. Expiration date September 24th.
That’s when any crypto exchange who wants to remain in business in South Korea must be licensed under Financial Services Commission’s new regulations.