28 Crypto exchanges Met Regulatory Requirements, Korean regulators Says

South Korean regulators officially released lists of the crypto exchanges, which can serve their services after 24 September. 

At the present time, all the Crypto exchanges of South Korea are fighting to comply with the regulatory requirements of South Korea to sustain their operations after 24 September. According to the new Amendment Act of South Korea, all the crypto exchanges needed to have certification from the Information Security Management System (ISMS) and also should have official banking partners. At present only 4 Exchanges are eligible under these two requirements. 

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South Korean regulators released total 28 crypto exchanges which are following the first condition ( ISMS certification), these 28 crypto exchanges includes Gopax, Upbit, Korbit, Coinone, Bithumb, Hanbitco, Casherest, Tennten, Dove Wallet, Flybit, Gdak, Aprobit, Huobi, Coin&coin, Probit, Borabit, Coredax, and Okbit.

Out of these exchanges, only 4 crypto exchanges are eligible to offer their services in local fiat currency of South Korea. These crypto exchanges are Upbit, Bithumb, Coinone, and Korbit. 

So, these four crypto exchanges are following full crypto regulatory guidelines of South Korea. Regulators clearly said that if 24/28 crypto exchanges failed to establish partnership with local banks of South Korea to provide real name account issuance & verification then 24 out 28 crypto exchanges can’t operate their services in Korean Won ( local currency). So they will only work as a crypto only exchange after 24 September. 

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