Category: real name

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

A 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...

Korean Supreme Court to Judge Whether Crypto Regulations Are Unconstitutional

The 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...

Most Crypto Traders in South Korea Remain Anonymous Despite Regulations

Most 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...

South Korea Ends Anonymous Cryptocurrency Trading Today

The 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...

215,000+ Sign Petition Against South Korean Crypto Regulation – Government to Respond

A national petition against extreme cryptocurrency regulations in South Korea has exceeded 200,000 signatures, the requirement for the government to respond. The petition entitled “Has the government ever dreamed a happy dream for the people?” was filed on...

South Korean Banks Reverse Decisions on Cryptocurrency Accounts

South Korean banks have backtracked from their decisions to stop servicing cryptocurrency accounts as crypto investors protested and the government re-discussed its policy. The country’s 6 major banks have been told that they must follow through with the...

Strict Regulations Force South Korean Banks to Stop Servicing Cryptocurrency Exchanges

Following the inspections of six major banks this week, South Korean regulators have uncovered some inadequate internal controls for handling cryptocurrency exchanges. Given the government’s strict rules, some banks have decided to stop providing services to cryptocurrency exchanges...

South Korea Expected to End Anonymous Crypto Trading by January 20

The South Korean government has been working on a system to enforce real-name identity verification on cryptocurrency traders. This system is expected to be implemented around January 20, thus ending the current practice which allows for anonymous crypto...

South Korean Exchanges Revise Policies to Comply with Crypto Regulation

South Korea’s cryptocurrency exchanges have implemented changes to comply with the government’s mandates announced last week. In addition to restricting certain customers from trading cryptocurrencies, the exchanges have stopped issuing new virtual accounts in accordance with the regulators’...