Coinone Expands to Indonesia With Several Cryptocurrencies

The service is coming to Indonesia in May 2018, supporting six cryptocurrencies available for trading
17 April 2018   876

The popular and rapidly developing South Korean cryptoexchange, Coinone, has made an announcement stating that it is expanding its services to Indonesia launching a platform under the name Coinone Indonesia. As it is stated on the official website, the service is coming to Indonesia in May 2018.

Coinone Indonesia will launch in Indonesia with an acquired expertise of the top 10 largest crypto-exchange in the world. The platform will keep users' assets safe with various stabilizers tools such as Multi-Sig Wallet, 2FA and Cold Wallet. Initially, the platform will allow six cryptocurrenies for trading: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Quantum, but later it promises to add more.

Moreover, the users can take part in a pre-registration event, and 10,000 people who applied for pre-registration will be chosen to get Trading Fee 0.00% Coupon and QTUM Airdrop. 

Korean Exchange to Create AML Hotline

Operators will be checking suspecious transactions in real time by the user reports
28 January 2019   479

The four leading cryptocurrency exchanges of South Korea are joining forces in the fight against money laundering, reports the local news agency The Korea Herald.

Bithumb, Upbit, Korbit and Coinone exchanges organized a hotline through which users can report suspicious transactions that may be related to criminal activities, such as financial pyramids. A representative of one of the participating exchanges, on condition of anonymity, said that operators would be able to verify suspicious transactions in real time and immediately block the accounts associated with them if the information is confirmed.

Earlier this month, it became known that 21 South Korean stock exchange cryptocurrencies were audited by the security of local authorities. Most firms were unable to prevent criminal activity, but the measures used by Bithumb, Coinone and Korbit were satisfied with the regulators.

The cooperative step against money laundering via cryptocurrencies is expected to boost the soundness of the industry and to better protect consumers.

Quote, Yonhap

On January 20, it was reported that the leaders of the Korean Komid Crypto Exchange were sentenced to prison terms for falsifying trading volumes.