Korean Exchange Halts Crypto Trading due to KYC System

Coinpia exchange executives said the company has to halt trading to comply with anti-money laundry and know-your-customer rules
06 February 2018   907

South Korean cryptocurrency exchange Coinpia has announced on Tuesday it will suspend trading and deposits after it was unable to implement a customer identification system in line with a recently enacted government mandate. Exchange executives said the company has to halt trading to comply with anti-money laundry and know-your-customer rules.

According to an announcement, Coinpia had suspended Korean won deposits on Jan. 30 in an effort to comply with the new regulation, enforced by South Korea's watchdog Finance Service Commission.

We have recently reported that South Korea launched a real-name trading system for cryptocurrencies, banning the use of anonymous bank accounts in transactions to prevent cryptocurrency from being used for money laundering and other illegal activities.

Opening cryptocurrency accounts has been banned for weeks while the banks have installed the system, which ensures only real-name bank accounts and matching accounts at cryptocurrency exchanges for deposits and withdrawals. Now each trader must identify himself with the help of a bank account to buy or sell a cryptocurrency.

However, Coinpia said it continues to work on the integration of identity verification into its existing exchange system.

Craig Wright to Claim to be Satoshi Again

He explained that the false information surrounding Bitcoin and blockchain-derived systems made him come out of the shadows
18 February 2019   35

A senior researcher at nChain, Craig Wright, sent the Commission on the US Exchange Commodity Trading (CFTC) introductory information on cryptocurrency mechanics in response to a request from the Office. But even in the official document he did not miss the opportunity to remind everyone that it was he who allegedly was the creator of Bitcoin Satoshi Nakamoto.

My name is Dr. Craig Wright and under the pseudonym of Satoshi Nakamoto I completed a project I started in 1997 that was filed with the Australian government in part under an AusIndustry project registered with the Dept. of Innovation as BlackNet. Ethereum is a poorly designed copy of bitcoin designed with the purpose of completing the promise of smart contracts and scripting that were delivered within bitcoin but which were hobbled by the core developers of bitcoin who sought to enable anonymous transactions to exist within the system. 
 

Craig Wright

"Satoshi"

Earlier in February, the “self-proclaimed Satoshi Nakamoto” announced that he possesses a patent, allegedly capable of restricting the right to issue JPM Coin.

In October 2017, Craig Wright made a mistake confirming that he was not Satoshi Nakamoto.