South Korea to Support ‘Normal’ Crypto Trading, Says Finance Watchdog

South Korea appears to be softening its stance on cryptocurrency trading. According to Yonhap News, Choe Heung-sik, governor of the Financial Supervisory Service, has said the government “will support [cryptocurrency trading] if normal transactions are made.” At a meeting with representatives from cryptocurrency exchanges, Choe also said the government will “encourage” banks to work with cryptocurrency exchanges, the report states. While brief, the statements will likely be seen positively by South Korea’s crypto community, as well as world markets, since the option to outright ban cryptocurrency exchanges had been mulled by…

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House Republicans drop rule change gutting ethics watchdog

House Republicans were forced into a humiliating climbdown on Tuesday after Donald Trump tweeted criticism of their move to gut an independent congressional ethics watchdog. Members ditched their plan to severely weaken the independent Office of Congressional Ethics (OCE) at an emergency meeting just before the start of a new legislative session on Capitol Hill in Washington. The original rule change, carried out without warning and behind closed doors, had provoked a fierce backlash from Democrats and transparency activists when first announced on Monday night. But it was flexing of…

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