Learn How To Make Money Monthly and Grow Your Bitcoin 100% Every Month. Learn How To Become Financially Free

Support Mntrends Operations By Making Bitcoin Donation To 1AFFXecAxmQT6WEu5eKaCa2iuaqLgthe8X....Thanks With love All of Us Team_Mntrends

Tuesday, 6 February 2018

See How Government Newly introduced system failed crypto exchanges in Korea


Last week South Korean Government put an end to all anonymous crypto trading account. Only to introduced a new system that allows real name accounts. However, see the new challenges below that Crypto exchangers are facing with this newly mandated system which was recently implemented

Summary:


  • > The real-name account system for South Korean cryptocurrency exchanges went into effect since last week January 30th. Requiring one to change to real name account before he/she can trade in CryptoCurrency. 
  • > The regulators previously announced that 6 major banks have installed the real-name system: Shinhan Bank, Nonghyup Bank, Industrial Bank of Korea, KB Kookmin Bank, KEB Hana Bank, and Gwangju Bank. However, local media reported on Saturday that only the first three on the list have actually decided to provide real-name account service to cryptocurrency exchanges.
  • > There are about 25 cryptocurrency exchanges operating in the country. However, only Bithumb, Upbit, Coinone, and Korbit have had their virtual accounts converted into real-name ones.
  • > Services are Optional For Banks because While the South Korean regulators ensured that the 6 banks installed the real-name system, banks were not mandated to provide service to cryptocurrency exchange customers.
Do you see this newly system introduced by Korean government as being inconvenient to CryptoCurrency operating exchanges in the country? Drop your comments below. 



Visit us daily For more of your summary Bitcoin News. We make it brief, clear and straight to the point or better still subscribe to our newsletter below and follow us @ 'Mntrendsblog' on all social media accounts. 

No comments:

Post a Comment