Bithumb to block crypto withdrawals to unverified private wallets
Bithumb users in South Korea have just two days to perform another round of KYC in order to whitelist their personal wallets, or crypto withdrawals will be blocked. Starting on Jan. 27, the South Korean crypto exchange Bithumb will not allow users to withdraw their crypto assets to unverified private wallets.On Jan. 24, the exchange announced that it would be the second of the four major exchanges in the country to ban withdrawals to unverified wallets. Coinone enacted a similar policy late last month and the other major exchanges are Upbit and Korbit.The new policy states that users may....
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Bithumb crypto exchange will no longer accept withdrawals for unverified wallet addresses as the South Korean government has enforced a ‘travel rule’ on the cryptocurrency exchanges operating within the country. The announcement came from an official blog post published on Monday, January 24. From January 27, Bithumb wouldn’t allow its customers to pre-register or withdraw […]
Major South Korean crypto trading platform Upbit will start gradually limiting services for unverified users this week. South Korean cryptocurrency exchange Upbit will soon halt services for unverified users.On Saturday, the company officially announced a set of changes to its customer verification system in compliance with South Korea’s mandatory Anti-Money Laundering (AML) requirements.According to the announcement, Upbit will start gradually limiting services for unverified users this week, restricting unverified customers from transacting more than 1 million Korean won ($850) at a....
The exchange plans to verify users’ names and resident registration details to ensure crypto transactions were “not used for illegal activities such as money laundering.” South Korean crypto exchange Coinone has announced it plans to no longer allow withdrawals of tokens to unverified external wallets starting in January.In a Wednesday announcement, Coinone said users would have from Dec. 30 to Jan. 23 to register their external wallets at the exchange, after which time it would restrict withdrawals. The exchange specified that crypto users could only register their own wallets, and the....
South Korean exchanges will require users to verify their third-party wallet addresses to help the country comply with FATF travel rule guidelines. Major South Korean crypto exchanges including Upbit, Bithumb and Korbit will follow Coinone's lead in banning transfers to non-verified wallets, industry analysts say. Yesterday Coinone announced that it would reject deposits from unverified private wallets starting Jan. 24 to reduce the risk of money laundering. All Korean exchanges, including Upbit, Bithumb, Korbit and 20 others, are expected to implement similar or identical measures as....
Leading Korean crypto exchange Bithumb is terminating its trademark agreements with two coin trading platforms operating abroad under its brand name. The move comes as digital asset exchanges in South Korea prepare to comply with the country’s stricter regulations for the industry that will be enforced in September. Bithumb Global and Bithumb Singapore to Change Their Brand Names as Bithumb Ends Trademark Agreements Two cryptocurrency exchanges, Bithumb Global and Bithumb Singapore, will not be able to use the Bithumb brand name and trademark starting from the last day of this....