Sentences with phrase «exchange using their real name»

Users wishing to make new deposits will have to make an account with the bank linked to the exchange using their real name.

Not exact matches

Currently used virtual accounts given directly by exchanges that don't authenticate the real names of users will be banned.

The EDD requires banks to verify additional information for cryptocurrency exchanges: the purpose of financial transactions and the source of money; details about services that the exchanges provide; whether the exchanges are using real - name accounts; and whether the exchanges verify their users» identification.

Under the measure, only real - name bank accounts and matching accounts at cryptocurrency exchanges can be used for deposits and withdrawals, while the issuance of new virtual accounts to cryptocurrency exchanges will be banned.

Starting as early as Jan. 20, clients will have to use only real - name bank accounts and accounts at cryptocurrency exchanges must have matching names in order to be used for deposits and withdrawals, the publication reports.

Now all cryptocurrency exchanges in the country must ensure that all of their customers use their real names and associated bank accounts when performing crypto - fiat trades.

Korean regulators mandated the use of a real - name trading system from January 30 wherein cryptocurrency traders and investors are required to use their real names with their cryptocurrency exchange accounts or wallets and bank accounts, a move to put an end to the anonymous trading of cryptocurrencies.

This includes determining details about the services provided, the purpose of financial transactions, the source of money, whether the exchanges are using real - name accounts and whether they verify users» identification.

He promised to encourage banks to work with more crypto exchanges, citing that there are three banks that have set up the real - name system but are not using it to issue virtual accounts for crypto exchanges.

Cointelegraph South Korea to penalize traders who do not use their real names on crypto exchange accounts, gov» t clarifies its position.

The opening of such accounts will be permitted only after banks complete the installation of a system that ensures only bank accounts with people's real names and matching accounts at cryptocurrency exchanges are used for deposits and withdrawals.

Small and medium - sized cryptocurrency exchanges are expected to suffer from the conversion into the real - name system, local media report, citing that banks are reluctant to issue new accounts for them and they can no longer use existing corporate accounts.

The challenge comes from the new system, enforced on January 30, which requires cryptocurrency traders to use real - name accounts to deposit money for trading at crypto exchanges.

So far, only four exchanges (Bithumb, Upbit, Coinone, and Korbit) have begun to use the new system for registration of the real names of account owners.

South Koreans must now use their real names to trade on local exchanges.

South Korean Banks Impose Real - name Authenticated Cryptocurrency Transfers Six South Korean banks will begin requiring customers who use cryptocurrency exchanges to register in person before allowing transfers from January 30.

«Under the new measure, only real - name bank accounts and matching accounts at cryptocurrency exchanges can be used for deposits and withdrawals, while the issuance of new virtual accounts to cryptocurrency exchanges will be banned.»

Since the preceding laws took effect, anonymous trading by cryptocurrency traders has been halted, and traders are required to use their real names associated with their digital currency exchange accounts, cryptocurrency wallets, and bank accounts.

He tends to make long - term real - estate investments, and a good chunk of his income comes from licensing deals that pay him for the use of his name, not necessarily ownership stakes where like - kind exchanges would be an effective strategy.