カテゴリー: real name

As Korean Crypto Exchanges Step Up AML Compliance, Banks Are Failing

As Korean Crypto Exchanges Step Up AML Compliance, Banks Are FailingAs the South Korean government steps up its anti-money laundering (AML) oversight, major crypto exchanges in the country are voluntarily complying while banks are reportedly failing to meet the guidelines for compliance. South Korea has also been discussing ways to boost crypto-related AML measures with the U.S. Also read: Yahoo! Japan Confirms Entrance Into the Crypto […]

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Report: Suspicious Transactions at Korean Exchange Coinrail Months Before Hack

Report: Suspicious Transactions at Korean Exchange Coinrail Months Before HackFollowing the announcement by South Korean crypto exchange Coinrail that it has been hacked, a local publication reported that some banks had identified suspicious transactions at the exchange and stopped providing services to company months before the incident. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Suspicious Transactions Detected South Korea’s seventh-largest cryptocurrency exchange, […]

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Korea’s Mandatory Crypto Real-Name System Neglected – 19% Conversion Rate

Korea’s Mandatory Crypto Real-Name System Neglected - 19% Conversion RateSouth Korea’s real-name system for cryptocurrency trading has been enforced for over a month, but most accounts have not been converted to the new system. Banks are still not converting accounts for most crypto exchanges and the government will not force them or investors to use the new system. Also read: Indians Look to Buy Bitcoin […]

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New Crypto Exchanges Launch in South Korea Despite Lack of Fiat Deposits

New Crypto Exchanges Launch in South Korea Despite Lack of Fiat DepositsA number of new cryptocurrency exchanges are launching in South Korea despite being unable to provide full service due to regulatory challenges. Since the Korean government enforced the real-name system on cryptocurrency accounts, banks have only been providing fiat deposit services to the country’s four largest crypto exchanges. Also read: Japan’s DMM Bitcoin Exchange Opens for […]

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Korean Supreme Court to Judge Whether Crypto Regulations Are Unconstitutional

Korean Supreme Court to Judge Whether Crypto Regulations Are UnconstitutionalThe case against the South Korean government over cryptocurrency regulations filed with the Constitutional Court has been referred to the Supreme Court. If the court rules that the regulations are unconstitutional, all existing crypto regulations imposed by the government could be nullified. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Case Referred […]

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Most Crypto Traders in South Korea Remain Anonymous Despite Regulations

Most Crypto Traders in South Korea Remain Anonymous Despite RegulationsMost cryptocurrency investors in South Korea remain anonymous without moving their accounts to the government-mandated real-name system. So far, less than 10% of crypto traders have converted their virtual accounts into real-name ones. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies 8% Conversion Rate So Far The real-name system for cryptocurrency exchange […]

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South Korea Ends Anonymous Cryptocurrency Trading Today

South Korea Ends Anonymous Cryptocurrency Trading TodayThe new South Korean cryptocurrency account system has entered into force nationwide today, ending the current practice that allowed for anonymous trading of cryptocurrencies. Traders must open real-name accounts at the same banks as their exchanges in order to deposit money to trade cryptocurrencies. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies […]

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