Central bank reacts to unregistered ways to engage in digital yuan trading.

[Representing. of the Republic of Korea: Over 200 offline cryptocurrencies on 20 exchanges in Korea in the first half of this year] Rep. Korea's Kwon Eun-hee said in a recent bill that 20 virtual asset exchanges in Korea are expected to launch in 2021. More than 200 cryptocurrencies have been offline in the first half of the year alone. The bill clarifies that the "rule of thumb" of registering and deleting cryptocurrencies on exchanges is detrimental to individuals, businesses and investors. The financial authorities have not yet prepared the necessary registration procedures. This bill clearly focuses on virtual resources as investment assets so that they can be monitored for business and self-regulation. The bill suggests that strict government regulations online and offline could become "a deterrent for startups to explode." (Forecast)