South Korean Banks Putting Up a hard Time for Digital Currency Traders

2018-9-11 13:54

Since the introduction of the real-name crypto system by the South Korean gov, only 40-50% of the cryptocurrency investors have shifted their accounts. For the other half the South Korea-located banks are not going to be very soft about.

Not being able to deposit the fiat Korean Won will be the first limitation that the entities have put up for those not converting their accounts. Despite that the officials predict that all crypto-platforms will be using the system, only four leading ones do.

Only banks that have agreed on the real-name system idea and conversion protocol can open accounts of the requested kind. Client deposits at exchanges are couples with their information on their bank accounts.

“Many investors do not convert to a real-name verified account but invest only with the funds that they have already deposited at crypto exchanges.”

More restrictions are planned to be implemented as mentioned in the news post for the not-transformed accounts attempting to invest in crypto.

As per a report from South-Korean outlet Kinews, relayed by The Next Web’s cryptocurrency column, the South Korean Ministry of Science And Technology has just made its first steps towards crafting its “first batch of blockchain specialists.”

On Monday, the ministry’s information and communication departments divulged that it had hosted its first ever lecture on distributed ledger technologies (DLT). This is reportedly the local government’s first move to roll out a “blockchain technology development strategy” course that is backed by a supposed 100 billion Korean Won ($90 million USD) investment from forward-thinking regulators.

The post South Korean Banks Putting Up a hard Time for Digital Currency Traders appeared first on Ethereum World News.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

United Traders Token (UTT) на Currencies.ru

$ 0.0223715 (+0.47%)
Объем 24H $235
Изменеия 24h: 23.70 %, 7d: 34.69 %
Cегодня L: $0.0223715 - H: $0.0223715
Капитализация $0 Rank 6130
Цена в час новости $ 0.3637 (-93.85%)

south korean banks traders hard putting time

Источник: ethereumworldnews.com

south korean → Результатов: 126


South Korean Politician Demands Parliament To Investigate TerraUSD’s Collapse

The “People Power Party” representative, a South Korean politician Yoon Chang-Hyeon called a parliamentary hearing on TerraUSD (UST) due to its sudden collapse last week. According to a report from South Korean Newschannel “Newspim” on Tuesday, May 17, at a plenary meeting of the National Assembly’s Political Affairs Committee, Yoon Chang-Hyeon stated; We should bring […]

2022-5-19 23:00


Bitcoin, Ethereum, XRP and other coins to be protected better with the new bill, says South Korean official

On 25th July, South Korean officials made it clear that the country’s governing bodies must come together to enforce cryptocurrency regulations. This comes in the wake of major hacks that has threatened to destabilize the financial markets as well as dissuade people from adopting cryptocurrencies on a larger scale. South Korea is making a steady progress […]

2018-7-27 23:34


Korea University and Huobi Subsidiary announced partnership

In the name of “industry-academia” cooperation in the field of blockchain development, Korea University is reportedly teaming up with the South Korean subsidiary of crypto exchange Huobi. Huobi was originally founded in Beijing in 2013, though it is now headquartered in Singapore, with branches in the US, Japan, Hong Kong, and China. The new South […]

2018-6-14 13:08


South Korean banks suspected Coinrail transactions months before in Feb

In the latest update to the largest South Korean crypto stealing scandal valued at $37.28 million, media has unearthed evidence that banks had detected suspicious behavior at local exchanges. South Korea major trading center In terms of volume and number of exchanges, South Korean, is by far one of the largest trading centers of cryptocurrency […] The post South Korean banks suspected Coinrail transactions months before in Feb appeared first on ZyCrypto.

2018-6-14 16:25


Six People Paid by Korean Exchange Upbit for Reporting Fraudulent Crypto Schemes

A major South Korean exchange, Upbit, has paid six people for reporting fraudulent crypto-related schemes. Japan Confirms Entrance Into the Crypto Space Upbit Paid Users for Reporting Fraud One of South Korea’s largest cryptocurrency exchanges, the Kakao Corp-backed Upbit, has paid six individuals for reporting fraudulent crypto-related schemes. The exchange implemented a bounty system in

2018-6-12 05:26


Bithumb south korean exchange cleared by government

After a three-month long investigation, the South Korean government cleared Bithumb crypto exchange with no evidence of wrongdoing found, a local media report on June 8. The government, which described the investigation as intense and extensive, ran a full audit of the exchange’s dealings by building up a search and seizure operation on the exchange’s […]

2018-6-12 02:22


Фото:

Emergency Market Review

As we know, today the markets are experiencing a fall that kicked in around 24-hours ago. The majority of the news is pointing towards a large-scale hack of South Korean cryptocurrency exchange, Coinrail as the root to this demise, however we can be pretty certain that there are some other contributing factors, factors within world politics and world finance.

2018-6-11 12:30

Фото:

Coinrail Hack See’s Markets Crash As $40 Million Stolen

The markets are down this morning in the wake of an alleged $40 Million hack of South Korean cryptocurrency exchange, Coinrail. Given current political activities within Singapore (the summit involving both the US President and the Leader of North Korea) we did expect the markets to be a little shaky this morning, the current view however is far worse than we expected.

2018-6-11 12:00

Is South Korean Exchange Hack Responsible for Bitcoin Price Plunge?

Bitcoin price plunge over the weekend is generally being linked to another cryptocurrency exchange hack in South Korea. This time it was a smaller exchange called Coinrail that was breached by blackhats who made off with over $40 million in altcoins which may have caused the massive sell-off on Sunday leaving a trail of red.

2018-6-11 09:12

дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Whales Continue To Accumulate $FRIEND Despite Price Decline

Despite experiencing a 7% decline in value today, the cryptocurrency token $FRIEND is witnessing increased accumulation by whales, signaling growing investor interest in the project. This trend is evident as on-chain data reveals notable inflows into the $FRIEND ecosystem.

Fetch.ai Token Surges 21% In 7 Days As Smart Trader Sees Substantial Profits

Fetch.ai, the artificial intelligence (AI) token, has experienced an impressive 21% gain over the past week, signaling renewed investor interest and bullish sentiment in the market. This positive price movement has attracted the attention of savvy traders, with one particular individual making notable moves within the Fetch.ai ecosystem. Smart trader […]