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South Korean cryptobirds will be engaged in suspicious transactions

Immediately, the four major cryptocurrency exchanges of South Korea – Bithumb, Upbit, Corbit and Coinone, will online share information on suspicious transactions and actions in users' wallets to counter phishing, money laundering using cryptocurrency and pyramid financial operations.

This initiative was born a few months after the South Korean government tried to suppress cryptocurrency activity: these attempts were met with resistance from investors and companies in cryptospace.

The news was followed by an amendment to the country's rules on combating money laundering, which requires local banks offering cryptocurrency exchange services, to tighten monitoring of the relevant bank accounts.


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