Bithumb And Coinone To Terminate Fiat Withdrawals of Unverified crypto users

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Bithumb, the largest crypto exchange by trading volume in South Korea, and Coinone, South Korea’s 3rd-largest crypto exchange, announced on Friday, Sept. 14, that it will terminate fiat withdrawal service for all users without verified real-name accounts.

Starting next month, users of Bithumb and Coinone must have verified real-name accounts in order to deposit and withdraw the fiat currency. The service will end on Oct. 1 for corporate members and on Oct. 15 for individual members.

According to Bithumb, this move is to comply with the government’s anti-money laundering policy, and it affects only for fiat withdrawals. Cryptocurrency transactions and withdrawals can be used...

Read More: https://news.bitzamp.com/crypto-exchanges-bithumb-and-coinone-to-terminate-fiat-withdrawals-of-unverified-users/