The operator of South Korean cryptocurrency exchange Bithumb has placed restrictions on trading accounts registered in jurisdictions that are deemed to be too lax in curbing money laundering.
South Korean cryptocurrency exchange Bithumb is toughening its approach to Anti-Money Laundering enforcement with a series of new measures that include trading restrictions, stronger Know Your Customer checks, and specialized blockchain intelligence solutions.The popular exchange, which has an estimated average of 1 million daily users and a daily transaction volume worth 5–7 billion ($4.4–6.2 million), had a troubled 2020 beset by police investigations over allegations of fraud. After a series of reported negotiations with various firms for a potential acquisition, major gaming conglomerate Nexon denied it was planning to acquire Bithumb earlier this year. The Korean Herald today cites fresh rumors that JPMorgan and CME Group
BTC-e crypto exchange operator pleads guilty to money laundering in the U.S.
Alexander Vinnik, a Russian national who operated the crypto exchange BTC-e, pled guilty to charges of money laundering…
