S. Korea Launches Real-name Cryptocurrency Trading

Now each trader must identify himself with the help of a bank account to buy or sell a cryptocurrency
30 January 2018   1287

South Korea launched a real-name trading system for cryptocurrencies on Tuesday, 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.

The new system also requires cryptocurrency exchanges to share users' transaction data with banks, a move that could potentially allow the government to impose taxes down the line. In addition, foreigners and underage investors are banned from opening cryptocurrency accounts in South Korea.

About 3 million people in South Korea are estimated to have invested in cryptocurrencies, and the nation's six banks have started verifying cryptocurrency investors' identities.

Caspian to Launch Crypto Derivatives Trading

Caspian does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x
21 March 2019   81

Caspian, an asset-oriented asset management platform, has launched cryptocurrency derivatives trading.

Thanks to integration with Deribit, Caspian customers gained access to trading in futures and options for Bitcoin and Ethereum. Also, the platform will provide the opportunity to trade indefinite bitcoin-swap.

According to Caspian, the platform does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x.

We are excited to be working with Deribit to make the trading of crypto options and futures possible within the institutional community. Our goal at Caspian is to provide crypto traders and investors the same standard of tools and service that exist in the traditional markets and its great knowing that the team at Deribit is working towards the same high standards.
 

Robert Dykes

CEO, Caspian

Caspian noted that their platform connects to Deribit via an API that supports “large trading volumes with extremely low latency”. The platform also has full access to the book of orders of the crypto-derivative stock exchange.