Korean Exchange to Create AML Hotline

Operators will be checking suspecious transactions in real time by the user reports
28 January 2019   1401

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.

Poloniex Wants to be Tron Super Representative

If the exchange will be elacted, it will be able to participate in the distribution of awards for one and a half million TRX daily
18 November 2019   67

The Poloniex cryptocurrency exchange this Monday announced the nomination of its candidacy for the role of validator in the blockchain project system TRON.

If successful, the exchange will be able to participate in the distribution of awards for one and a half million TRX daily. At the time of publication, she ranks 92nd in the general list of candidates with 32,626 votes, while the last super-representative in the 27th position has 262,320,639 of them.

Some time before, Poloniex opened several trading pairs for the TRX exchange and announced an official collaboration with Justin Sun's project.