South Korean cryptocurrency exchanges Bithumb, Coinone and Korbit will start implementing the travel rule required for tracking customer information from January 2022.
Bithumb, Coinone and Korbit to comply with the travel rule set by the Financial Action Task Force (FATF) under the name of CODE founded a new company.
Korean exchanges using the blockchain system developed by CODE; As per FATF’s rule exceeding a certain value transactions sender and buyer will be able to record the personal information of the customers on the side.
This information transfer from stock market to stock market with the travel rule money laundering It is aimed to prevent illegal transactions such as
Cha Myung-hoon, who runs Coinone and has started to act as the CEO of CODE; They are among these three exchanges as they will use CODE jointly as three exchanges. can be processed more transparently stated.
Travel rule of cryptocurrency exchanges in South Korea by March 2022 at the latest are expected to be implemented. Developed by Upbit versus CODE developed by Bithumb, Coinone and Korbit trio VerifyVASP There is also a rival system called