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Cryptocurrency4 hours ago (Sep 23, 2021 10:00AM ET)
South Korean Exchange Crackdown: BitMEX Joins Binance To Modify Its Services
- South Korea moves to regulate crypto exchanges.
- BitMEX removes the Korean language from its site ahead of the September 24 deadline.
- Only four exchanges have fully registered and 40 may close down.
South Korea has joined other countries such as Australia to introduce new crypto demands. As a result, BitMEX is removing Korean language materials from its trading platform and website.
Further, the new Anti-Money Laundering rules are required of local exchanges and foreign exchanges operating in the country. Also, exchanges that offer won-denominated trading pairs or the Korean Language must file.
Even more, The Korean regulators stated that all exchanges have to register with its anti-money laundering arm by September 24. They asserted that any exchange that fails to register will stop operating in the country.
Clearly, with the introduction of the new crypto requirements in South Korea, d…
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