news

bitcoin

1 X bitcoin bitcoin =

Tuesday

28 September 2021

Major Korean Exchanges Secure Real-Name Account Arrangements With Local Banks – Regulation Bitcoin News

Major Korean Exchanges Secure Real-Name Account Arrangements With Local Banks – Regulation Bitcoin News


smart summary beta

Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed.

Banks have reportedly agreed to keep issuing real-name accounts for South Korea’s top digital asset exchanges.

According to the Korean daily, the statement suggests the bank plans to eventually extend the partnership with Korbit but it will probably wait until the exchange files for registration with the Financial Services Commission (FSC).

Acquiring a registration with the Korean Financial Intelligence Unit (FIU), an anti-money laundering body under the FSC, is a key requirement under the country’s updated crypto regulations.

To be able to register, Korean exchanges need to not only secure a partnership with a bank in order to implement the real-name account system, but also obtain an Information Security Management System (ISMS) certificate from the Korea Internet and Security Agency.

The Korean online bank K Bank is issuing real-name accounts for the platform.

Goto Full Article

bitcoin bitcoin price

$41775.00

24h

Live Average

bitcoin

News Article Sentiment

negative

Score (-0.2)

Article Metadata

author

site

bitcoin.com
Market data feeds provided by cryptocompare.com
bitsmart 2021