South Korea moves to ban Anonymous Crypto Accounts

News rolling in from South Korea is that the Government has been developing a system to lockout anonymous account transactions has come from financial industry sources. These follow-up measures have come after South Korea's government announced last week they were undertaking measures to limit transactions of cryptocurrencies, which include possible closures of cryptocurrency exchanges.

If we see a go ahead, only real-name bank accounts and matching accounts at cryptocurrency exchanges can be used for deposits and withdrawals, while new virtual accounts will be banned.

With this news and the current downtrend in many of the altcoin in the marketplace, we will soon see if this has a major effect. Coins like #xrp especially are popular in South Korea in which we see, a large volume through South Korean exchanges, keep an eye on developments as those with long positions may need to keep are careful watch on developments.