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The Financial Services Commission (FSC) of South Korea is aiming to place a ban on buying and selling cryptocurrencies with credit cards. The Indian government could take further action, including a possible ban, on Indian operations of offshore cryptocurrency apps such as Binance. South Korea's Financial Services Commission (FSC) has proposed an amendment to its credit finance act that would effectively prohibit local citizens from purchasing cryptocurrencies using credit cards.

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South Korea, despite its relatively pro-crypto stance, is trying to regulate the ways its residents interact and engage with virtual currencies. If approved, the prohibitory rule will be imposed on the local citizens. The FSC's proposed ban on credit card purchases of cryptocurrencies is part of its broader efforts to regulate the crypto industry and protect investors. Trending Products �. The aim is to keep reducing the margin for notorious elements to misuse crypto assets for illegal activities like money laundering and terror financing.