8% of S. Korean Cryptocurrency Accounts Verified

8.21% of the total accounts had been converted to real-name bank deposits
06 February 2018   566

About 8% of virtual bank accounts for cryptocurrency trading have been converted to real-name bank accounts, a week after the government ended anonymous trading of cryptocurrencies, industry sources said Tuesday. It is reported that 143.300 virtual ledgers for cryptocurrency trading, or 8.21% of the total accounts, had been converted to real-name bank deposits.

The real-name trading system, which came into effect from Jan. 30, is part of the government's latest measures to prevent cryptocurrency from being used for money laundering and other illegal activities.

Currently, people can buy or sell cryptocurrencies through their virtual accounts, but they must comply with the real-name trading system if they want to pour new money into cryptocurrencies or withdraw money from these accounts.

We have recently reported that South Korean cryptocurrency exchange Coinpia suspended trading and deposits after it was unable to implement a customer identification system in line with a recently enacted government mandate.

Former SpaceX Engineer to Launch Crypto Exchange

Earlier CEO of LXDX Joshua Greenwald worked as the engineer on automation and propulsion systems at SpaceX
18 September 2018   92

The supplier of exchange technologies and services LXDX launches a new trading platform for digital assets. This is reported by the publication LeapRate with reference to the company's CEO Joshua Greenwald.

He said that the new platform will make institutional trade instruments available to a wide range of crypto traders.

Our immediate focus is on cryptocurrency and enabling every investor to utilize the exclusive tools, like smart order routing, that only institutions previously could access. When we built top tier infrastructure for traditional markets, our team solved many of the same problems facing cryptocurrency exchanges today. We are excited to bring a higher caliber of technology to cryptocurrency investors everywhere.
 

Joshua Greenwald

CEO, LXDX

The site will fully meet the requirements of KYC / AML.

Earlier Joshua Greenwald worked as the engineer on automation and propulsion systems at SpaceX. His startup received support from large investors, one of which was the venture fund Dymon Asia. In September, LXDX moved to Malta.