Young Journalists Club | Latest news of Iran and world

News ID: 17658
Publish Date: 9:50 - 08 January 2018
TEHRAN, January 8 -South Korea’s financial regulator said on Monday it is jointly carrying out inspections on six local banks that offer virtual currency accounts to institutions.

South Korea inspects six banks over clients' virtual currency accountsTEHRAN, Young Journalists Club (YJC) -South Korea’s financial regulator said on Monday it is jointly carrying out inspections on six local banks that offer virtual currency accounts to institutions.

The joint inspection by the Financial Services Commission (FSC) and Financial Supervisory Service (FSS) will check if banks are adhering to anti-money laundering rules and using real names for accounts, FSC Chairman Choi Jong-ku told a press conference.

Officials are also looking at ways to reduce risks associated with cryptocurrency trading in the country, which could include shutting down institutions that use such currencies, Choi said.

Source:Reuters

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