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![]() The government of South Korea announced today that it will be prohibited to make internal exchange of cryptocurrency from allowing users to make transactions through anonymous accounts. ![]() 28.Dec.17 9:57 AM By Daria Zaytseva Photo Toinnov.com |
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It may become a series of updates aimed at improving the supervision of industry practices, the government will also seek to prohibit banks from issuing new virtual accounts for the exchange of cryptocurrencies. Hong told the news source that only accounts with a real and comparable identification number can be resolved for depositing and withdrawing funds. The government's ban on the use of anonymous accounts, in fact the mandate that exchange providers perform know-your-customer (KYC) due diligence, is seen as the last step to curb trade activity around the country's cryptocurrencies. According to the report, the Financial Intelligence Unit and the Financial Supervisory Service will regulate and monitor exchanges to comply with the new rule. |