South Korea’s first cryptocurrency exchange Korbit could continue to open the real-name accounts from investors as it met the government guideline on preventing money laundering and investor protection.
It said Thursday it would continue to strengthen monitoring on preventing money laundering and financial crimes involving cryptocurrencies.
The exchange said it would centralize the data storage for investor information to better protect investors.
It would also increase staff in charge of information security and anti-money laundering. It would also use artificial intelligence, and credit rating agencies to better protect customer information.
The exchange would also team up with banks and other financial services firms to prevent money laundering and crime financing through cryptocurrencies.
In South Korea, the government has been strict in permitting banks to open accounts with cryptocurrency exchanges.
Running real-name accounts is an exception, not a rule for South Korean cryptocurrency exchanges.
