According to a report (Korean content) published by South Korea Financial Services Commission, starting January 30th this year, all crypto exchanges will have to comply with a KYC (Know Your Customer) rule that will link any trading account to a real name bank account. This will eliminate the so called "virtual accounts" trading, which made possible trading quasi-anonymously.
From 30th January onwards, trading accounts should match bank accounts identically.
A few exchanges already announced they will comply with the measure: Korbit, Bithumb and Coinone.
To be honest, I don't see this as bad news. On the contrary.
If they regulate crypto, it's obvious they won't ban it.
As one of my followers suggested earlier in a comment, this whole South Korea drama could be a test run for many other nations standing on the side, looking for the best approach towards this phenomenon.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
Wanna know when you're getting paid?
|
I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |