More than 60 Korean cryptocurrencies will be closed next week

Seoul: More than 60 South Korean crypto exchanges are required to notify their clients of some or all of the trading suspension by midnight Friday, one week before the new rules take effect. 24, the Internet Security Administration issues a security certificate. You will also need to work with your bank to open an account in your real name. exchanges that are not listed must end their service after September 24, and exchanges that are registered but not affiliated with the bank are prohibited from trading.

FSC must notify customers of the expected termination date and withdrawal procedure at least 7 days in advance if the service is partially or completely terminated on September 17th,” he said. Almost 40 exchanges are ready to shut down all services. The remaining 28 have security certificates, but do not have reliable partnerships with banks. Only four companies, Upbit, Bithumb, Coinone, and Korbit, can win by signing up and establishing partnerships.

Several smaller exchanges, including ProBit, Cashierest and Flybit, have announced that they will stop trading and will continue to trade digital coins until they partnered with the bank.