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Strict Regulations Force South Korean Banks to Stop Servicing Cryptocurrency Exchanges



Strict Regulations Force South Korean Banks to Stop Servicing Cryptocurrency Exchanges

Following the inspections of six major banks this week, South Korean regulators have uncovered some inadequate internal controls for handling cryptocurrency exchanges. Given the government’s strict rules, some banks have decided to stop providing services to cryptocurrency exchanges instead of overhauling their systems further to comply with the regulations.

Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading

Banks’ Inadequate Internal…

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