Sentences with phrase «name verification»

It also asked South Korean banks to reveal their internal guidelines and regulations, including real name verification for digital currency transactions.

However, some banks refuse to introduce a real - name verification process system, leaving investors scrambling for solutions.

South Korea subsequently banned anonymous trading accounts and is now requiring exchange platforms to put in place real name verification of accounts before resuming operations.

As the FSC's announcement pointed out, minors and non-citizens will be restricted from the new name verification service.

As the FSC's announcement pointed out, minors and non-citizens will be restricted from the new name verification service.

Bithumb explained on its website that the issuance of new virtual bank accounts has been suspended in accordance with the government's regulation, which is a «requirement of real name verification for cryptocurrency transactions.»

Based on the new rules, financial institutions in South Korea have rolled out self - implementation of real - name verification with more major exchanges, while reportedly closing doors to smaller firms.

Per a statement posted on its website, Coinpia stated, «We have not been able to establish a real - name verification system with domestic banks due to stability issues.

As reported by CoinDesk, the country's Financial Services Commission (FSC) had mandated that all cryptocurrency exchanges in the country must introduce real - name verification procedures for all customers via domestic banks by Jan. 30.

To facilitate this regulation process, the government has implemented real name verification which mandates all cryptocurrency investors to use bank accounts registered under their real names as opposed to anonymous accounts previously used by many.

As reported by CoinDesk, South Korea formally prohibited domestic banks from providing virtual, anonymous accounts for cryptocurrency exchange users and mandated a new real - name verification process from February 2018.

«Establishment of the system for «real name verification of deposit and withdrawal accounts» for settlement will be completed by January 30, 2018,» the FSC documentation reads.

The investigation, according to the report, follows a previous mandate from financial watchdogs in South Korea that domestic cryptocurrency exchanges may only resume operation with a real - name verification system integrated with domestic banks.

Starting from February this year, all exchanges in South Korea have to implement real - name verification for customers before they can resume trading activity.

«Establishment of the system for «real name verification of

Currently, Huawei's app store provides the best security system in the industry, with a four - layer safety guarantee mechanism of developer real - name verification, system testing, human review and user reporting, which handled over 90000 risky apps in 2016.

Korea Business explains that «Real name verification is possible only if there is an account of the person's name at the bank that the virtual currency trading company uses.»