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South Korean crypto exchanges to follow Coinone in verifying private wallets
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Major South Korean crypto exchanges including Upbit, Bithumb and Korbit will follow Coinone's lead in banning transfers to non-verified wallets, industry analysts say.
Yesterday Coinone announced that it would reject deposits from unverified private wallets starting Jan. 24 to reduce the risk of money laundering. All Korean exchanges, including Upbit, Bithumb, Korbit and 20 others, are expected to implement similar or identical measures as Coinone by or before March 25. The Korean government set the deadline for exchanges to track coin transactions on and off their platforms accurately.
Korean blockchain industry analyst Jun Hyuk Ahn told Cointelegraph, “Korean exchanges are creating their own Travel Rule solutions in order to meet the
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