South Korea’s 23 cryptocurrency exchanges agreed to self-regulation and 10 rejected

In South Korea, as banks still refuse to provide new virtual accounts for most encrypted transactions, the need for self-regulation of cryptocurrencies is increasing. The Korea Blockchain Association is developing self-regulatory standards. Thirty-three exchanges were required to be reviewed. According to local media reports, 23 companies agreed but 10 refused. This 10 was driven out of the association, including Coinnest. The exchange that agrees to the review will be checked for compliance with the self-regulation rules set by the association, with emphasis on safety, coin-operating procedures, funding, and investor protection.
The 23 exchanges are Glosfer, Nexcoin, Neoframe, Upbit, Bithumb, Gopax, Coinlink, Scoin, Okcoin Korea, Whalex, Zeniex, Kairex, Kcx Exchange, Komid, Korbit, Coinone, Coinzest, Coinplug, Crypto Company, Dexko, Korea Encryption, Money Exchange, Huobi Korea.

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