Share this article
BTC
$82,944.33
-
1.40%ETH
$1,785.74
-
1.69%USDT
$0.9999
+
0.04%XRP
$2.1296
-
0.44%BNB
$590.57
-
1.15%SOL
$119.00
-
3.53%USDC
$1.0003
+
0.03%DOGE
$0.1678
-
1.52%ADA
$0.6473
-
2.20%TRX
$0.2376
-
0.77%LEO
$9.0807
-
4.76%LINK
$12.66
-
2.81%TON
$3.2609
-
3.87%XLM
$0.2506
-
3.47%AVAX
$17.79
-
2.13%SHIB
$0.0₄1227
-
0.24%SUI
$2.2008
-
4.06%HBAR
$0.1611
-
2.70%LTC
$81.97
-
2.91%OM
$6.2347
-
0.32%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Bithumb to Mandate ID Verification From Non-Koreans Within the Year: Report
The crypto exchange will prohibit access to its platform for non-Korean nationals who fail to verify their identity by mobile phone.
South Korean crypto exchange Bithumb is set to mandate ID verification from foreign users in a bid to tighten its know-your-customer (KYC) policy in the face of regulatory scrutiny.
- Bithumb will prohibit access to its platform for non-Korean nationals who fail to verify their identity with a mobile phone, Pulse News reported Thursday.
- The policy is expected to take effect within the year with an exact date to be announced later.
- South Korea’s Financial Services Commission requires all crypto exchanges to register with its Financial Intelligence Unit by Sept. 24. Approval is contingent on meeting required standards relating to KYC and anti-money laundering (AML) systems and policies.
- Exchanges that fall short risk having their websites blocked by the authorities.
Read more: Upbit Is First Korean Exchange to Register With Authorities Before September Deadline
STORY CONTINUES BELOW
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
