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   425

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 Exchanges to Ban Withdrawal for Unverified Users

This decision was made by Bithumb and Coinone for anti-money laundering policy implementation
18 September 2018   169

Bithumb and Coinone will deprive unverified users of the possibility to withdraw funds, reports.

The possibility of withdrawing the crypto currencies to Bithumb will be discontinued on October 1 for corporate market participants. For individual users, this restriction will take effect on October 15. According to the representatives of the exchange, the decision was made to implement the requirements of the anti-money laundering policy.

Representatives of the trading platform stressed that the limitation concerns only the possibility of issuing fiat funds.

The South Korean authorities ordered local crypto-exchanges to verify users in January. Exchange customers can use the so-called "real name system" to convert their accounts into verified and linked to the accounts of banks cooperating with platforms.

However, by now banks have provided this service only to the four largest South Korean exchanges - Bithumb, Upbit, Coinone and Korbit. Moreover, despite the efforts of the government, banks and the cryptoexchanges themselves, only 40-50% of traders took advantage of this service. At the same time, local banks exert pressure on the exchanges, so that the latter more actively comply with the requirements of the anti-money laundering policy.

A similar statement was made by the Coinone Exchange, all unverified users of which will not be able to withdraw Fiat after October 15.