🇰🇷Korea 🚫Bans Anonymous👤 Cryptocurrency💸 Trades
South Korea is banning the use of anonymous bank accounts to make cryptocurrency transactions. The move is aimed at stopping virtual currencies being used for crimes such as money laundering. The regulations will bring the country closer into line with financial rules in other markets. South Korea is believed to be the world's third-biggest market for trades in Bitcoin and other cryptocurrencies, behind Japan and the US. And its importance in the world of digital currency has meant that decisions made in Seoul can result in large, sudden price swings. South Korea considers Bitcoin trading ban The new policy, which had been discussed for some time, will kick in on 30 January. Holders of anonymous cryptocurrency wallets must now link them to bank accounts in their own name and have their identities confirmed. The requirements are similar to the Know Your Customer anti-crime regulations in the US.
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