• Latest
Four Crypto Exchanges Face Stricter Regulation in South Korea: Report

Four Crypto Exchanges Face Stricter Regulation in South Korea: Report

July 29, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Litecoin

Four Crypto Exchanges Face Stricter Regulation in South Korea: Report

coinnewsdaily by coinnewsdaily
July 29, 2019
in Litecoin
0
Four Crypto Exchanges Face Stricter Regulation in South Korea: Report
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022

Four South Korean cryptocurrency exchanges are reportedly facing stricter regulation as they aim to renew their banking accounts. As local industry media TheBchain reports on July 29, the new requirements come after the Financial Action Task Force (FATF) released recommendations on virtual currency regulations.

Per the report, South Korean cryptocurrency exchanges Bithumb, Upbit, Coinone and Korbit will have to comply with new, stricter norms to successfully renew their banking partnerships following the FATF guidance released in June.

As Cointelegraph reported at the time, the new guidance posits that crypto asset service providers should comply with Anti-Money Laundering and combating the financing of terrorism procedures in the same way as traditional financial institutions.

While the FATF guidance is not required or legally binding, it can be an effective tool as a country that chooses not to adopt the new standards could potentially be excluded from the global financial network. 

According to TheBchain — after those guidelines have been released — banks providing services to crypto exchanges are legally liable in cases of money laundering. An official of a major trading site in Korea commented on the development:

“In order to meet this standard, small- and medium-sized exchanges that lack the necessary funds are likely to disappear from the market.”

As Cointelegraph reported earlier this month, the new FATF guidance has invited criticism from privacy advocates in the industry. One aspect that was especially criticized was the “travel rule,” which requires virtual asset service providers to collect and transfer customer information during transactions.



Credit: Source link

Tags: Litecoin
Share76Tweet48
Previous Post

US Capital Global Offers $10 Million in a Tokenized Crypto Fund

Next Post

Circle CEO Allaire to Congress: Treat Crypto as a New Asset Class

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |
Bitcoin

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing
Bitcoin

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022
Bull or bear market, creators are diving headfirst into crypto
Alt Coin

Bull or bear market, creators are diving headfirst into crypto

April 2, 2022
crypto listing and delisting announcements: week 9
Alt Coin

Crypto Listing and Delisting Announcements: Week 9

February 28, 2022
unstable markets how to invest in cryptocurrency
Alt Coin

How to invest in cryptocurrency when the market is uncertain, explained

December 21, 2021
be your own banker secrets
Alt Coin

Bitcoin and Crypto Wallet Hygiene 101

November 22, 2021
Load More
Next Post
Circle Moves Non-US Poloniex Customers to New Bermuda Entity

Circle CEO Allaire to Congress: Treat Crypto as a New Asset Class

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$20,665.00-2.02%
  • ethereumEthereum(ETH)$1,180.10-2.88%
  • tetherTether(USDT)$1.000.07%
  • binancecoinBNB(BNB)$232.33-1.27%
  • rippleXRP(XRP)$0.346070-5.23%
  • cardanoCardano(ADA)$0.478657-3.79%
  • SolanaSolana(SOL)$37.62-5.18%
  • dogecoinDogecoin(DOGE)$0.070209-7.38%
  • polkadotPolkadot(DOT)$7.58-4.54%
  • Shiba InuShiba Inu(SHIB)$0.000011-3.92%
  • daiDai(DAI)$1.000.05%
  • tronTRON(TRX)$0.066224-0.24%
  • leo-tokenLEO Token(LEO)$5.85-0.60%
  • matic-networkPolygon(MATIC)$0.51-9.49%
  • litecoinLitecoin(LTC)$54.94-4.35%
  • FTXFTX(FTT)$26.98-1.47%
  • OKBOKB(OKB)$12.23-2.70%
  • CronosCronos(CRO)$0.122919-2.03%
  • chainlinkChainlink(LINK)$6.42-6.21%
  • stellarStellar(XLM)$0.116928-4.05%
  • algorandAlgorand(ALGO)$0.323112-3.85%
  • cosmosCosmos Hub(ATOM)$7.60-6.91%
  • ethereum-classicEthereum Classic(ETC)$16.14-6.69%
  • moneroMonero(XMR)$118.16-6.74%
  • bitcoin-cashBitcoin Cash(BCH)$110.22-3.75%
  • vechainVeChain(VET)$0.024085-3.03%
  • tezosTezos(XTZ)$1.576.77%
  • Internet ComputerInternet Computer(ICP)$5.75-1.23%
  • theta-tokenTheta Network(THETA)$1.31-3.36%
  • filecoinFilecoin(FIL)$5.71-3.38%
  • ElrondElrond(EGLD)$54.83-3.09%
  • bitcoin-cash-svBitcoin SV(BSV)$58.82-3.40%
  • eosEOS(EOS)$0.97-3.60%
  • AaveAave(AAVE)$64.17-3.06%
  • makerMaker(MKR)$993.33-2.36%
  • paxos-standardPax Dollar(USDP)$1.000.02%
  • huobi-tokenHuobi(HT)$5.28-0.19%
  • iotaIOTA(MIOTA)$0.286769-1.18%
  • zcashZcash(ZEC)$61.30-5.00%
  • neoNEO(NEO)$9.31-3.19%
  • zilliqaZilliqa(ZIL)$0.043032-7.81%
  • basic-attention-tokenBasic Attention(BAT)$0.391660-2.51%
  • wavesWaves(WAVES)$5.72-7.37%
  • havvenSynthetix Network(SNX)$2.37-11.00%
  • dashDash(DASH)$48.68-2.68%
  • PancakeSwapPancakeSwap(CAKE)$3.30-1.17%
  • KusamaKusama(KSM)$51.09-4.87%
  • nemNEM(XEM)$0.041480-0.30%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • CompoundCompound(COMP)$49.76-2.24%
  • ethlendAave [OLD](LEND)$4.103.48%
  • qtumQtum(QTUM)$2.94-2.68%
  • bitcoin-goldBitcoin Gold(BTG)$17.29-1.26%
  • omisegoOMG Network(OMG)$1.94-0.53%
  • golemGolem(GLM)$0.2470712.40%
  • SushiSushi(SUSHI)$1.12-3.54%
  • ontologyOntology(ONT)$0.2437092.23%
  • yearn-financeyearn.finance(YFI)$6,022.30-7.37%
  • umaUMA(UMA)$2.66-1.99%
  • digibyteDigiByte(DGB)$0.009980-5.44%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....