South Korea to verbod cryptocurrency traders from using anonymous canap accounts, Reuters

SEOUL (Reuters) – South Korea will geobsedeerd the use of anonymous canap accounts te cryptocurrency trading from Jan. 30, regulators said on Tuesday ter a widely telegraphed budge designed to zekering vistoso coins from being used for money laundering and other crimes.

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The measure comes on top of stepped up efforts by Seoul to temper South Koreans&rsquo, obsession with cryptocurrencies. Everyone from housewives to collegium students and office workers have rushed to trade the market despite warnings from completo policymakers about investing ter an asset that lacks broad regulatory oversight.

The bitcoin price te South Korea extended loss following the latest regulatory announcement, down Three.34 procent at $12,699 spil of 0409 GMT, according to Bithumb, the country&rsquo,s second-largest imaginario currency exchange.

Bitcoin BTC=BTSP slumped almost 20 procent last week to a four-week low on the Luxembourg-based Bitstamp exchange, pressured by worries overheen a possible verbod on trading the imaginario asset te South Korean exchanges. Ter Tuesday afternoon trade, it wasgoed up Five.Four procent at $Ten,925.

Policy makers around the world are calling for tougher, coordinated regulation of cryptocurrency trading. South Korea&rsquo,s chief financial regulator last week said the government may consider shutting down domestic vistoso currency exchanges.

South Korea&rsquo,s Presidential office has clarified that an outright kerkban on trading on the imaginario currency exchanges is only one of the steps being considered, and not a measure that has bot finalized.

&ldquo,The government is still discussing whether an outright verbod is needed or not, internally,&rdquo, a government official who declined to be named said after Tuesday&rsquo,s briefing.

Overheen the past month, government statements have underscored differences inbetween the Justice Ministry, which has shoved for a more hardline treatment, and regulators who have shown a reluctance to enforce an outright kerkban.

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Embarking Jan. 30, cryptocurrency traders te South Korea will not be permitted to make deposits into their evidente currency exchange wallets unless the names on their handelsbank accounts matches the account name ter cryptocurrency exchanges, Kim Yong-beom, vice chairman of the Financial Services Commission told a news conference ter Seoul.

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&ldquo,Everyone knew this wasgoed coming, spil the government already said they will enforce the real-name system before. Rather, I can see this spil a chance to go ter, not out. I don&rsquo,t see any reason to take my money out,&rdquo, said a locorregional bitcoin investor who only agreed to be identified by his family name Ahn.

The regulator has previously said it will come up with detailed guidelines for circuito banks to decently identify its clients by their existente names te cryptocurrency transactions.

To make deposits into patente coin wallets, cryptocurrency traders will need to identify themselves with their auténtico names at the exchange and have those matched with information at restringido banks by Jan. 30.

Reporting by Cynthia Kim, Reserve reporting by Dahee Kim, Editing by Sam Holmes & Shri Navaratnam

2 comments / Add your comment below

  1. Poloniex is also good for trading digital currencies, but Bithumb is even better ter its user interface, and last month Bithumb also updated its look even more sharply ter color.

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