South Korea to start real-name trading of crypto currency
In South Korea, the crypto began its real name trading system for money transactions. He forbade the use of anonymous bank accounts in transactions and thus prevented the use of virtual money for money laundering and other illegal activities.
Crypto money transactions in South Korea can not be done anonymously
The real-name trading system emerged as the government's latest safeguards against virtual paralell speculative investments.
It is estimated that about 3 million people in South Korea are investing in crypto money, and the six banks of the country have begun to verify the identities of crypto money investors.
A system was introduced that enabled banks to match real bank accounts and accounts in cryptog currency exchanges.
The opening of crypto-currency accounts was banned for a few weeks while establishing the banking system.
This is going to be highly controversial but I personally see it as a good thing. Regulation was always going to happen. But right now, legitimacy is more important and that's what this does. It adds an air of legitimacy to Cryptocurrencies. That's what it needs to really go mainstream.
Yes,just as you say; This is going to be highly controversial, but I think it should be.