The Shinhan Bank delayed its plan to enable customers to open real-name cryptocurrency accounts.
It said the delay was inevitable because it has yet to develop a system to prevent the accounts from being abused for money laundering.
The bank put off the plan apparently after consulting with the financial regulators. Last week, the bank has informed the three domestic cryptocurrency exchanges, including Bitthumb, Korbit, and Eyalabs, that the exchanges would no longer be able to accept money from investors through the Shinhan Bank virtual accounts.
The measure is a de facto suspension of cryptocurrency transactions through Shinhan Bank’s virtual accounts
Investors and cryptocurrency exchanges protest Shinhan Bank’s decision.
