South Korean cryptocurrency exchange Bithumb renews the registration of new users and implements the verification of the identity of potential customers according to KYC policy. For this, they must open a Bank account Nonghyup Bank. Also Bithumb consider the possibility of starting cooperation on this issue with the Bank, Shinhan Bank.
We will remind that else in December the South Korean authorities adopted a series of measures to regulate the cryptocurrency trade. And 30 January, the country enacted a ban on anonymous cryptocurrency trading.
The Korean exchange has experienced difficulties with the integration of the KYC system, the authorities required: user identification system established six leading Korean banks, but in fact, only three of them agreed to provide this service to cryptocurrency exchanges. So, the exchange Coinpia was forced to suspend trading and taking deposits due to the lack of the ability to integrate a system of identification of clients in accordance with the new requirements of the government.
According to some, the country’s banks decided to cooperate only with major cryptopodum: Bithumb, Upbit, Coinone and Korbit.