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❕NEWS South Korea to ban Crypto Exchange platform to handling privacy coins.

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SCAMEXPOSER

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Privacy coins include Monero, Dash and Zcash, they are termed privacy coins because they mask their transactions which are difficult to track by law enforcement agency nor financial regulators, they are mostly use for illegal transactions.

The financial services commission for South Korea has ban Crypto Exchange platform from dealing with transactions involving this coins, the regulator also mandated the Exchange platform to implement .KYC as a must .
 
The restriction is with an impact from March 2021. The trades should report their activities to specialists a half year following execution of the rules.
South Korean stages, for example, Okex have since been compelled to delist a few security coins
I didn't know that the compliance will take effect March 2021 , the Crypto currency exchange platforms has time to delist them and also ensure KYC compliance.
 
I guess banning them its for the good of the people because those coins can be used by those scammers to defraud others and now they are no longer using bitcoin , they are now using monero
 
I guess banning them its for the good of the people because those coins can be used by those scammers to defraud others and now they are no longer using bitcoin , they are now using monero
Thats the coins they have been using and I guess it is the repeated challenges of unmasking the transactions involving them by security agencies that made them to move for their remover
 
Privacy coins include Monero, Dash and Zcash, they are termed privacy coins because they mask their transactions which are difficult to track by law enforcement agency nor financial regulators, they are mostly use for illegal transactions.

The financial services commission for South Korea has ban Crypto Exchange platform from dealing with transactions involving this coins, the regulator also mandated the Exchange platform to implement .KYC as a must .
I think this restriction is for the safety of business. The authorities know better about this matter. And as you said those coins are used for illegal transactions so it's better to ban those coins to avoid fraud.
 
Thats the coins they have been using and I guess it is the repeated challenges of unmasking the transactions involving them by security agencies that made them to move for their remover
Since they cant track it its left for them to ban it, but can the owner of Xmr find ways to track the coins easily , will am still happy that it wasn't bitcoin they banned if not that wouldn't be good at all
 
Privacy coins include Monero, Dash and Zcash, they are termed privacy coins because they mask their transactions which are difficult to track by law enforcement agency nor financial regulators, they are mostly use for illegal transactions.

The financial services commission for South Korea has ban Crypto Exchange platform from dealing with transactions involving this coins, the regulator also mandated the Exchange platform to implement .KYC as a must .
Well I think this is a good strategy to control the irregularities that .ay arise through the use of such private coins. Indeed most of these private coins doesn't have high trade volume because people don't really trust them
 
This messures taken by the Korea officials is definitely the right step. I would even implore other wallet to follow the step by including KYC and extra security measures in their wallet
 
This messures taken by the Korea officials is definitely the right step. I would even implore other wallet to follow the step by including KYC and extra security measures in their wallet
I think improving that will resuce the rate at which scares and hack are been recorded on those exchange platform since some dont even use kyc data
 
I didn't know that the compliance will take effect March 2021 , the Crypto currency exchange platforms has time to delist them and also ensure KYC compliance.
I don't see this as a bad idea since there are mostly used for illegal activities. There should only operate them if there's good security measures on ground
 
I think improving that will resuce the rate at which scares and hack are been recorded on those exchange platform since some dont even use kyc data
Yes it will and it will make every transaction made traceable. But my concern now is if the crypto wallet will yield to what the Korea government wants
 
Yes it will and it will make every transaction made traceable. But my concern now is if the crypto wallet will yield to what the Korea government wants
Hmm yeah i think it might yeild to what Korean government wants because the government would ban them if they dont ,and that fear will be there
 
Hmm yeah i think it might yeild to what Korean government wants because the government would ban them if they dont ,and that fear will be there
Korea is known for their strict and discipline way of life. They do not change or bend their rules for any reason and this have been their culture for a very long time. so I believe this will make the wallet comply with the new set of rules by the Korea
 
Korea is known for their strict and discipline way of life. They do not change or bend their rules for any reason and this have been their culture for a very long time. so I believe this will make the wallet comply with the new set of rules by the Korea
Yeah i believe the government is so strict after seeing what said on the conrona virus issue in their country , so they will comply due to where they reside
 
Korea is known for their strict and discipline way of life. They do not change or bend their rules for any reason and this have been their culture for a very long time. so I believe this will make the wallet comply with the new set of rules by the Korea
Perhaps it is because they have for a long time experience being lead by strict leaders who will never consider the welfare of citizens when taking decision
 
Perhaps it is because they have for a long time experience being lead by strict leaders who will never consider the welfare of citizens when taking decision
I don't think so. Koreans are known for their dicipline and strict nature for a longtime and always keep to their words. This is just their way of life.
 
I don't think so. Koreans are known for their dicipline and strict nature for a longtime and always keep to their words. This is just their way of life.
That's the best they are always proactive and will do everything to prevent the system to be corrupt or diluted , I support the delistment of those coins
 
The ban of those privacy coins at the centre of it all is the government of a country putting her people's security and safety first which is her top duty.
This is quite true , I only hope that they also put this measure in other aspect of life as well , such as in providing basic amenities for the citizens.
 

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