Credit Finance Association of Korea Blocks Crypto Payments

South Korea continues to intensify its policy towards cryptocurrency as 8 South Korean card companies are reportedly blocking transactions to overseas cryptocurrency exchanges
23 January 2018   196

Credit Finance Association of Korea (CREFIA) is a non-profit organization with the members of Credit Specialized Financial Business Companies, such as credit card, leasing, installment financing and venture capital companies, developing credit specialized financial business industry through constructive cooperation, information sharing, and promotion of research for mutual benefits of the members. 

CREFIA revealed that South Korean credit card companies are currently working on blocking payments to overseas cryptocurrency exchanges.

We will continue to prevent transactions from being carried out if a foreign [cryptocurrency] exchange is registered as a merchant.

The Credit Finance Association of Korea

The finance association reported to South Korean media Yonhap that 8 local credit card companies are in the process of suspending credit/check card transactions so that the users would not be able to buy virtual currency at overseas virtual currency exchanges with local credit cards.

The credit card companies include:

  • BC Card 
  • Hyundai Card
  • KB Kookmin Card
  • KEB Hana Card
  • Lotte Card
  • Samsung Card
  • Shinhan Card
  • Woori Card

Previously, we have reported that South Korean financial authorities banned opening anonymous cryptocurrency accounts, and that Korbit exchange stated that foreigners would not be allowed to deposit Korean won at any domestic cryptocurrency exchanges.

UCLA Blockchain Crypto Conference to be Held in LA

The UCLA Conference will be held on February 17-18 of 2018, gathering together the most experienced and exciting thinkers
17 February 2018   231

UCLA's Blockchain Lab and Far from LA are holding the Blockchain Cryptocurrency Conference, gathering together the most experienced and exciting thinkers across SoCal, in order to foster both economic and educational progress. The conference will concern cybersecurity, cryptocurrencies, and blockchain.

The UCLA Conference will be held on February 17-18 of 2018.

Location: The University of California, Humanities Building, 415 Portola Plaza, UCLA 90095, Los Angeles

The headline speakers will include Kathleen Breitman, the co-founder of Tezos; Sandra Ro from UWIN Lab; David Moss from EOS; Jeremy Rubin, the Bitcoin core developer, and many more.

The agenda of the conference is as follows: the future of blockchain keynote, bringing humanity to the blockchain, cybersecurity, autonomous vehicles, blockchain's influence on the development of art and culture, blockchain in the music industry, government adoption of blockchain around the world, and more.