South Korean regulator bans exchanges from working with anonymous cryptocurrencies

Financial Services Commission of South Korea (FSC) announced a ban on working with digital assets, creating a high risk of money laundering, including anonymous cryptocurrencies.

In their statement, FSC representatives called such assets "dark coins". Under The definition is anonymous cryptocurrencies, Including zcash, Monero и dash. Amendments will be made to a special payment act, which regulates work with cryptocurrencies in South Korea, and will enter into force in March 2021 of the year.

Also, According to the new leadership, Cryptocurrency exchanges, South Korea, must introduce modern customer identification procedures and counteract the laundering of income. Including, It is necessary to check the authenticity of the user's name.

Note, that most South Korean exchanges do not work with anonymous cryptocurrencies in connection with international requirements. In early October, Europol called anonymous cryptocurrencies and wallets with the functions of confidentiality "main threats" security.