Banks of South Korea fold cryptocurrency program

Two South Korean Bank has announced that it close its reward program through which customers buy bitcoins for bonus points credit cards.

On 15 January, the services your program will stop, Shinhan Bank, and on January 22, KB Kookmin Bank will close a similar program. At the moment, for bonus points credit card to buy bitcoin on the exchange Coinplug, which made a partnership agreement.

To purchase cryptocurrencies, customers of the above banks can use reward points programs Liiv Mate from KB Kookmin Bank and Shinhan My Point from Shinhan Bank.

In early December of this year, financial institutions of South Korea has taken emergency measures to regulate cryptocurrency. In addition, the Chairman of the financial services Commission (FSC) Choi Jong Ku said that the government should ban Korean companies to provide financial services for the cryptocurrency market.

As a result of such action, the largest South Korean banks began to gradually close the associated cryptocurrency services.

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