South Korea's Financial Services Commission began inspection on 6 banks over their handling of virtual currency accounts
Some comments made by the commission chairman Choi Jong-ku:
- The six banks include the Industrial Bank of Korea
- There's a high possibility that cryptocurrency transactions could be used in money laundering
- To suspend the virtual currency accounts and its related operations of said banks if they are found to have broken laws related to cryptocurrencies
- Will not let South Korea take the lead (among other countries) in abnormal cryptocurrency trading
He adds that the cryptocurrency "fever" in South Korea is much stronger than it is in other countries. Earlier news can be found here.
