The largest digital currency trading centers in Beijing have put off their stands in South Korea launches because of the uncertainty surrounding the Government’s planning laws. Where the organizers currently on the system to determine the true name ending anonymous trades for covert operations in the country.
Since the Chinese Government closed digital currency exchanges in last September, two of the largest platforms in the country preparing to enter South Korea market. But new Government regulations led to postponing the move.
Plan to start trading service at digital currency trading
Chinese trading center has established belonged to a Korean company in October with a plan to start trading service in December last year. To start the platform initially supported 10 digital currencies, including Bitcoin, Bitcoin cash and Ethereum .
Hubei trading center also developed a plan to launch the Exchange in South Korea. The company recently entered into a partnership with SPIE Japan holdings to start its operations in Japan. According to the Nikkei newspaper.
Larger Chinese Bitcoin from trading platforms to Japan
In December the Korean government carried out a number of measures on the regulation of the digital currency, most of the recent measures related to the elimination of anonymous trading of covert operations. The government has also established a real name identification system and the practice of anonymous trading is likely to end by 20 January.
The instantaneous prices of Bitcoin during Thursday’s trades dropped to trade at 15010 dollars after the day’s trades opened at 15150 dollars, registering the highest level at 15390 dollars while the lowest level at $14953.
South Korea’s agreement with the biggest banks
According to CryptoCompare website, digital currency markets in both Japan and South Korea is responsible for approximately 40% of Bitcoin from trading operations and about 10% of the circulation of Ethereum in the whole world. And digital currencies are traded in these two countries by millions of active traders, despite the application of strict regulations require that you know your customer (KYC) and anti money laundering (AML) and that makes the process of verifying the user is uncomfortable and ineffective.
The introduction of large digital currency banks, such as Huobi, will improve the structuring of the digital exchange markets in Japan and South Korea, which are now dominated by a handful of exchanges. And most of all, when China was considered responsible for the majority of the bikini deals in 2016, Huobi was the most heavily traded day in the world market. As such, the Huobi will probably be able to provide a trading platform capable of meeting the requirements of a cupcake See traders and investors from the digital and other currencies.