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Bithumb Suspend Crypto Transaction Services in 21 Countries to Comply with FATF Anti-Money Laundering Regulations
Summary: South Korean crypto exchange Bithumb announced that it will suspend trading services for residents of countries or regions that do not meet the Financial Action Task Force (FATF) anti-money laundering standards. As of now, according to data released by FATF, Bithumb will suspend crypto trading services for 21 countries. Bithumb said it is working to ...
South Korean crypto exchange Bithumb announced that it will suspend trading services for residents of countries or regions that do not meet the Financial Action Task Force (FATF) anti-money laundering standards. As of now, according to data released by FATF, Bithumb will suspend crypto trading services for 21 countries.
Bithumb said it is working to prevent virtual asset crimes by strengthening KYC procedures, including verifying customers' residences and monitoring suspicious transaction reports. It has established its own anti-money laundering center for the first time in the industry, and regularly checks the anti-money laundering system and status through real-name accounts associated with banks.
By Amy Liu
Tags: Anti-Money Laundering,Bithumb,Crypto,FATF
Link: Bithumb Suspend Crypto Transaction Services in 21 Countries to Comply with FATF Anti-Money Laundering Regulations [Copy]
