South Korean crypto exchange Bithumb said it will deny access to foreigners unable to verify their identities via mobile phone. The decision comes as the trading platform moves to comply with the country’s updated regulations coming into force later this month. Korean Exchange Bithumb Prepares to Register Under New Rules Foreign nationals who do not pass mobile phone identity verification will not be able to use services provided by Bithumb, one of South Korea’s four largest cryptocurrency exchanges. The platform made the announcement this week as it prepares to follow new, stricter rules for the Korean crypto sector by Sept. 24. The country’s revised Special Funds Act took effect on March 25 and will be enforced after a six-month grace period. It requires domestic crypto exchanges to register with the Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC). They also have to cooperate with local banks on the implementation of the real-name accounts system.
Official Bitcoin Latest News Blog 🗞️