South Korea proposes to ban credit card payments for cryptocurrencies.

Kabir903

The Financial Services Commission (FSC), South Korea's top financial regulatory body, today proposed amendments to its Credit Finance Act aimed at effectively prohibiting local citizens from using credit cards to purchase cryptocurrencies. The regulator stated that the main reason for this new amendment is to restrict cryptocurrency traders from purchasing cryptocurrencies on foreign cryptocurrency exchanges. The FSC, in the legislative notice, pointed out that concerns about illegal outflows of domestic funds, money laundering, and encouragement of speculative activities led to this decision.
According to Yonhap News Agency, the regulator plans to gather public feedback on the proposed amendment by February 13. A review and vote are expected, with the goal of implementation in the first half of 2024.

Kahn332

This prohibition seems entirely reasonable.

Kalkin995

I find this proposal very appropriate.

Pooja193

This goal seems achievable as well.