Opening virtual Bank accounts South Korean cryptocurrency exchanges should be carried out according to General rules and cannot be restricted. This was stated by the head of the financial services Commission of South Korea (FSC) Choi Jong Ku, according to CCN.
“There is no problem with the fact that banks provide virtual account cryptocurrency exchanges. Platforms that comply with the requirements in the area of customer identification and anti-money laundering, can be freely maintained in the financial institutions of the country,” he said.
Statement FSC was positively evaluated by representatives of the Korean Association of the blockchain, which includes several bitcoin exchanges. According to them, this will allow to solve in the January issue, when the government ordered the banks to transfer crypto currency exchange transaction information to their customers.
We will remind, in June the FSC tightened the rules for combating money laundering concerning the activities of cryptocurrency exchanges. According to the amendments, banks that serve the exchange, are required to control the movement as funds in their accounts, and own assets of cryptocurrency sites.