Korea’s Biggest Cryptocurrency Exchange Bans Trading in 11 Countries
Citing money laundering concerns, South Korean cryptocurrency exchange Bithumb has banned trading in 11 countries including North Korea, Iran, Iraq.
In an announcement on Monday, the exchange said it will comply with global anti-money laundering norms by blocking all transactions of residents in jurisdictions belonging to the Non-Cooperative Countries and Territories (NCCT) blacklist.
The 11 NCCT countries are seen by the inter-governmental Financial Action Task Force (FATF) as nations that have taken insufficient measures to combat money laundering, terrorist financing and other threats to the international financial system. The countries, in addition to North Korea, include Bosnia and Herzegovina, Ethiopia, Syria, Iran, Iraq, Sri Lanka, Trinidad and Tobago, Tunisia, Vanuatu and Yemen.
https://www.ccn.com/koreas-biggest-cryptocurrency-exchange-bans-trading-in-11-countries/