South
Korea’s
Financial
Services
Commission
(FSC)
has
proposed
a
ban
on
using
credit
cards
to
purchase
cryptocurrency,
citing
concerns
“illegal
outflow
of
domestic
funds
overseas.”
The
regulator
wants
to
expand
the
scope
of
prohibited
credit
card
payments
to
add
crypto
exchanges
to
prevent
foreign
currency
outflow
and
prevent
money
laundering,
it
said
in
a
note
on
Thursday.
The
FSC
has
invited
comment
on
the
proposal
from
organizations
and
individuals
by
Feb.
13.
Last
month,
the
FSC
proposed
rules
to
protect
users
of
crypto
exchanges,
requiring
the
exchanges
to
store
at
least
80%
of
their
customers’
deposits
in
cold
wallets
–
crypto
wallets
not
permanently
online
and
thus
less
vulnerable
to
hacks.
Under
the
rules,
exchanges
would
also
have
to
pay
fees
to
customers
for
using
their
deposits.
