Over 60 South Korean Crypto Exchanges Set to Suspend Services Next Week

Over 60 South Korean Crypto Exchanges Set to Suspend Services Next Week
Representations of cryptocurrencies Bitcoin, Ethereum, Dogecoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken on June 29, 2021. Dado Ruvic/Illustration/Reuters
Reuters
Updated:

SEOUL—More than 60 cryptocurrency exchanges in South Korea must notify customers of a partial or full suspension of trading by Friday midnight, a week before a new regulation comes into effect.

To continue operating, exchanges must register with the Financial Intelligence Unit by Sept. 24, providing a security certificate from the internet security agency. They must also partner with banks to ensure real-name accounts.