South Korean Top Exchanges Join Hands To Fight The Money Laundering Evil

  • A lot of regulators have had a blind eye towards cryptocurrencies because of its semi-anonymous and decentralized nature which is often used by people to launder monies.
  • Understanding this money laundering evil that is halting regulations in favor of cryptos, four major cryptocurrency exchanges in South Korea have joined hands to tackle this menace.
  • Most exchanges are now following the Know Your Customer (KYC) and AML regulations while a lot of countries like Japan have self-regulatory guidelines and bodies monitoring any kind of activities which are not legal in nature.

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