9/17, 8:26 AM (Source: TeleTrader)
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Over 60 Korean crypto firms to suspend services

More than 60 cryptocurrency exchanges in South Korea will have to notify customers of a partial or full suspension of trading by Friday midnight, a week before a new regulation comes into effect.

In order to resume operating, exchanges must register with the Financial Intelligence Unit by September 24, provide a security certificate from the Korean internet security agency, and partner with banks to ensure that accounts involved in trading on these exchanges include real names.

Nearly 40 exchanges will suspend all services, an additional 28 have security certificates, but no bank partnerships, and only four - Upbit, Bithumb, Coinone and Korbit - have fulfilled all requirements to continue operating.

Breaking the News / TT