Express
South Korean Regulator Calls for Banks to Stop Grumbling About Crypto Market Risk
Summary: A leading South Korean regulatory chief has repeated calls for banks to stop complaining about absorbing risks related to crypto exchanges and accept that any partnerships they undertake with trading platforms must be done so at their own peril. Banks have called on regulators to soften their stance after the FSC said that banks would ...
A leading South Korean regulatory chief has repeated calls for banks to stop complaining about absorbing risks related to crypto exchanges and accept that any partnerships they undertake with trading platforms must be done so at their own peril.
Banks have called on regulators to soften their stance after the FSC said that banks would be made to undertake 100% of the risk involved with taking on an exchange client. That would in effect mean that should an AML violation take place on a partner exchange, the bank would be held accountable. Banks claim that exchanges themselves should be made to accept blame, or that another solution should be found.
By Amy Liu
Tags: Banks,Crypto,Regulator,South Korean
Link: South Korean Regulator Calls for Banks to Stop Grumbling About Crypto Market Risk [Copy]
