South Korean cryptocurrency exchange Bithumb is now accepting fresh investor registrations following integration of fresh regulator-mandated “know-your-customer” (KYC) procedures.
Ter an announcement on its homepage, Bithumb said that, kicking off from Feb.9, investors on the toneel will be able to confirm their actual identity through accounts at Nonghyup Handelsbank. The rigid further detailed that KYC integration with Shinhan Canap is also being pursued.
The integration arrives just Ten days after a formal verbod on anonymous potencial trading accounts te South Korea. Spil reported by CoinDesk, the country’s Financial Services Commission (FSC) had mandated that all cryptocurrency exchanges te the country voorwaarde introduce real-name verification procedures for all customers via domestic banks by Jan. 30.
That followed the ruling that domestic banks voorwaarde zekering issuing fresh imaginario accounts to cryptocurrency exchanges, announced ter late December.
The KYC integration means existing and fresh investors registered on Bithumb are able to resume trading ter compliance with the commission’s rules.
Yet it emerges that not every toneelpodium is finding it effortless to transition to the fresh KYC procedures. A smaller exchange, Coinpia, had to halt trading and deposits after it failed to integrate the verification system with circunscrito banks.
According to an earlier report from Korea’s news agency Yonhap, banks ter South Korea may reject small- to mid-sized cryptocurrency platforms and only integrate with major exchanges such spil Bithumb, Upbit, Coinone and Korbit.
Editor’s note: Some statements have bot translated from Korean.
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