South Korean exchange Bithumb has introduced new restrictions as part of its anti-money laundering policy,
The Korea Herald reports, these measures will affect residents of countries from
the FATF's enhanced monitoring list and
high risk jurisdictions. Bithumb will block existing user accounts from the listed regions and prohibit residents from creating new accounts.
“The company will continue improving its system to protect investors, and enhancing transparency in the crypto market,” a Bithumb official said.
While verifying the identity of customers, the Korean firm is also beefing up its “know your customer” processes.
List of countries whose residents are subject to these restrictions:
Albania
The Bahamas
Barbados
Botswana
Cambodia
Ghana
Iceland
Iran
Jamaica
Mauritius
Mongolia
Myanmar
Nicaragua
North Korea
Pakistan
Panama
Syria
Uganda
Yemen
Zimbabwe