According to the official statement of the Korean site Bifumb, under the new practice anti-money laundering (AML) using the cryptocurrency, the exchange will not provide services to residents in jurisdictions from the list of «non-cooperating countries and territories» (NCCT).
We are talking about 11 the member countries of the NCCT, which «has not taken sufficient measures to combat the financing of terrorism, money laundering and other threats to the international financial system».
Intergovernmental task force the financial action task force (FATF) has identified that these include North Korea, Syria, Iraq, Bosnia and Herzegovina, Trinidad, Ethiopia, Sri Lanka, Vanuatu, Yemen, Oman, Iran and Tunisia.
28 may the exchange Bifumb does not register new accounts of the citizens of these countries, and the remaining block to 21 June. His decision Bifumb explained the politics of the global effort to combat money laundering.
«Citizens NCCT will not be available for our services – this will prepyatstvovat the use of crypto-currencies for financing international terrorism, the press release of the company. – We will strictly comply with our internal rules and to protect investors, and actively cooperate with the authorities.»
According to CoinMarketCap, Bithumb – South Korea’s largest and the fifth largest in the world of cryptocurrency exchange.
With the end of 2017 the stock exchange of South Korea are faced with significant requirements to comply with regulations. They ranged from taxation to the verification of users. This is due to the fact that the authorities are trying as quickly as possible to standardize and protect the cryptocurrency market.