South Korean crypto exchanges Bithumb, Coinone, Korbit, and Upbit have joined forces to fight potential money laundering and protect the interests of users in the country.
The four crypto exchanges recently established a “hotline” to allow sharing real-time wallet information on suspicious or unusual trading activities that are suspected to involve criminal acts,
South Korea’s four largest cryptocurrency exchanges have set up a joint Anti-Money Laundering (AML) initiative. Bithumb, Coinone, Korbit, and Upbit claims the initiative aims to increase AML efforts and foster a healthier trading environment.
The move comes at the behest of the South Korean government,
South Korean gaming giant Nexon has denied rumors that the company is considering the acquisition of cryptocurrency exchange Bitstamp.
Last month, it was reported that a group of South Korean investors was in discussions to acquire Bitstamp. Yesterday,
Bitcoin stabilized a bit today, holding around the $8,000 per single coin level this morning after a brief rally and plunge to begin the week. While the news isn’t fantastic, it helps to establish a baseline for the sustained rally that many predict in the next two months.
South Korea’s National Pension Service (NPS) has been indirectly investing in cryptocurrency exchanges, according to a local media report. This was revealed amid South Korean regulators pushing to institute controls on the country’s cryptocurrency market.
NPS is a public pension plan sponsor.
