South Korean cryptocurrency exchanges that cannot meet up with the Financial Intelligence Unit (FIU) registration exercise are mandated to inform their customers before midnight today that they will be shutting down operations a week before the September 24, 2021 deadline.
The affected trading platforms have been instructed not only to inform their customers that they will be halting operations, but they will also need to provide detailed information about how their users can withdraw their funds.
“Should some or all services need to be closed, (cryptocurrency exchanges) should notify customers of the expected closing date and procedures to withdraw money by at least seven days before the closure,” South Korean Financial Service Commission (FSC) said in a statement published by Reuters today.
Compulsory AML Registration
Recall that the South Korean regulator instructed all digital asset exchanges operating within its regulatory purview to comply with its anti-money laundering (AML
Źródło: https://cryptopotato.com/over-60-south-korean-crypto-exchanges-to-shut-down-next-week/
