Korea's crypto exchanges will no longer face banking issues: Commissioner Choi

posted 15 days ago
Choi Jong-Ku, the commissioner of the Financial Services Commission (FSC) of South Korea, has reaffirmed there are no issues related to compliance and security in the process of banks providing virtual bank accounts to local cryptocurrency exchanges.

Commissioner Choi said “There exists no issue in banks providing virtual bank accounts to cryptocurrency exchanges. If digital asset trading platforms have KYC and AML systems in place, there is no problem in issuing virtual bank accounts to exchanges."
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