Are you aware that despite government mandated regulation on CryptoCurrency real name account that So far, only less than 10% of crypto traders have converted their virtual accounts into real-name ones?
- 90% of cryptocurrency investors in South Korea remain anonymous without moving their accounts to the government-mandated real-name system.
- As part of the government regulations, The real-name system for cryptocurrency exchange customers was introduced instead of ban on CryptoCurrency.
- However, after one week, only 8.21% of all crypto virtual accounts in the country have been converted into real-name ones, local media report.
- Six major South Korean banks have installed the real-name system. And only three of them are offering the account conversion service to cryptocurrency exchanges: Industrial Bank of Korea (IBK), Nonghyup Bank, and Shinhan Bank.