South Korea’s major crypto exchanges, including Upbit, Bithumb and Korbit, will follow Coinone’s lead in banning transfers to unverified wallets, industry analysts say.
Yesterday, Coinone announced it would decline deposits from unverified private wallets starting January 24 to reduce the risk of money laundering. All Korean stock exchanges, including Upbit, Bithumb, Korbit and 20 others, are expected to implement similar or identical measures as Coinone by or before March 25th. Korean government together deadline for exchanges to accurately track coin transactions on and off their platforms.
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