South Korea does not approve futures exchange

South Korea decided not to participate in the race for futures on bitcoin, by providing an opportunity for Japan and the United States to lead in this direction. And the reason is not that financial companies do not want to introduce new tools. All the matter in the official ban, which was released by the government.

The securities brokers of South Korea was preparing to launch trading in futures on bitcoin for their customers, however this was not to be — the financial regulators of the country decided to impose a ban on this practice. Financial Supervisory service (FSS) issued this Directive on 5 December — it applies to all members of the Korean Association of financial investments.

In this regard, the Korean brokers, such as eBest Investment & Securities and Shinhan Financial Investment, had to cancel scheduled seminars for clients trading futures on bitcoin, the report said
The Korea Herald.

Authorities in South Korea have previously banned
the holding of ICO, began to study the question of taxation of payments in bitcoin and established a governmental working group to regulate trade.

According to recent reports, Kim Jin-Hwa (Kim Jin-hwa), a former head of Korbit, working bilinovich Association of leading companies in the country Bithumb, Coinone and Korbit, to create an Association representing the interests of the industry. «The spread of new technologies in Korea hampered by regulations,» he told the newspaper.

The race started

While South Korea decided to sit on the bench, other countries are actively working with the launch of futures on bitcoin.

CBOE prepares to launch
his proposal on Sunday, and CME Group will follow on 18 December. Meanwhile in Japan, the Tokyo Financial Exchange is not going to be at the tail — currently, the exchange plans to launch its own futures bitcoin. Retail brokers have already started to prepare their clients to work with new exchange instruments for bitcoins — do TD Ameritrade Ally and Invest.

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