RE: Is Korean Crypto Returning to Normal? The Return of Crypto and the Kimchi Premium

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Is Korean Crypto Returning to Normal? The Return of Crypto and the Kimchi Premium

in bitcoin •  7 years ago 

There is something I don't understand.
Don't every Korean already have a named KYCed/AMLed bank account? Why can't they use that account to send money to exchanges?
I mean everyone in my country has such a bank account.

bitcoin
7 years ago by

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      ·  7 years ago 

    Great question. The Korean government seems really sensitive about money laundering. It comes up in almost every announcement by them, so I think its an extra step to prevent that. Any other thoughts on why people would be doing that?

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