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South Korea is considering adopting an approval system for crypto exchanges based on New York’s BitLicense system, local news outlet BusinessKorea reports. BusinessKorea writes that it is unlikely any final decision will be made until after the June 2018 elections in the country. A government official spoke to them about the option as part of a virtual currency taskforce: “We are positively considering the adoption of an exchange approval system as the additional regulation on cryptocurrencies. We are most likely [to] benchmark the model [against that] of the State of New York that gives a selective permission.” BitLicense is a license to operate a virtual...

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