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Local exchanges are slashing the number of cryptocurrencies they offer.
The country’s largest exchange by trading volume, Upbit, announced Friday that 25 coins were put on its investment warning list, a first step before delisting the coins from the exchange. Smaller exchanges such as Probit announced the delisting of hundreds of coins recently.
The moves come as the exchanges hope to partner with banks that agree to offer bank accounts in the name of the actual trader for trading on the exchanges. After an amendment to the Act on Reporting and Using Specified Financial Transaction Information took effect in March, exchanges were given until Sept. 24 to find such banks to keep operating.
Full Article: https://koreajoongangdaily.joins.com/2021/06/13/business/finance/coin-upbit-cryptocurrency/20210613183100430.html