Bithumb, Another Exchange Enforcing Regulations!
Just shortly after Bithumb announced the listing of steem some new headlines appeared, which basically state that the exchange is from now on strictly enforcing anti money laundering (AML) laws and regulations.
That being said citizens of states comprising the Non-Cooperative Countries and Territories (NCCT) initiative will no longer be able to use the exchange. Registrations out of those 11 countries are blocked already, while existing accounts will be permanently closed on June 21.
“We will strictly enforce our own rules and protect our investors, and we will actively cooperate with the authorities,” a Bithumb spokesman added.
To me, this statement more or less makes clear that cryptocurrency exchanges in south korea aren't going anywhere any time soon. They are actively cooperating with the officials and hence operating within the law, which provides them with a certain security for their business operations.
Some might not like to hear those news but it would be ignorant to think that cryptocurrency based businesses could operate completely outside of any law. Which leads back to the question why the hack only so few people use decentralized exchanges...
( Source - Cointelegraph.com )
A Crypto Startup Revolutionizing Steem! |
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yes true we don't want money laundering but at the same time i think these government's have an agenda to back their fiat and cut the life of peer to peer networks out of the financial equation am i wrong please reply i would like to know were they are coming from
Those bisexual thumbs... I totally read that as bi thumb, not bit thumb or bit humb because that's not actually how it reads.
Good step indeed ... obviously we dont want the evolution of crypto to fall into a prey of money laundering.
Awesome info....this is literally a good help direction to me! Thanks @steembusiness for your insight into bithumb.
Oh, I love to hear this news, the more they protect their customers, the less the government will start banning cryptocurrencies. Additionally, businesses might allow crypto-adds again, under certain circumstances.
@steembusiness Get Ready to start Posting some Silver and Gold stacking posts. I just nominated you for #steemsilvergold and I am in the process of getting a sponser to second the nomination.........