Bithumb, one of the four largest South Korean cryptocurrency exchanges, from August 1 to stop the registration of new user accounts linked to Bank accounts, so are unable to extend the contract with the Bank, NH Nonghyup Bank. Thus while the owners of the previously created virtual accounts can use them to embed and withdrawals in the normal mode, experts believe that this possibility soon may be closed.
Previously, the crypto currency exchange not renew the contract with the Bank, Shinhan Bank, relying on NH Nonghyup Bank, but he refused to meet the appropriate application of the company due to the existing, in his opinion, Bithumb problems with the protection of investors and information, as well as prevention of the laundering of illegal funds.
At the same time, according to local media, the NH Nonghyup Bank has extended a contract with a crypto currency exchange Coinone, Shinhan Bank – Korbit, and Industrial Bank of Korea – with Upbit.
Recall that the financial services Commission of South Korea imposed a ban on anonymous cryptocurrency trading from January 30. At the end of may Bithumb decided to prohibit the sale on its platform, users from Iran, Iraq, Serbia, Sri Lanka, Ethiopia, Tunisia, Yemen, Syria, Trinidad and Tobago, Vanuatu and North Korea, explaining this decision by the participation in “global efforts to combat money laundering”. A month later she was under attack, the losses from which amounted to 19 billion Korean won (~$16.9 million).