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Coinone Sends KYC Warning to Users of Centralized Crypto Exchanges
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One of South Korea’s biggest crypto exchanges – Coinone – has told its customers that they will no longer be able to make withdrawals to “unregistered” wallet addresses as of next month. Observers both in South Korea and overseas say that similar measures may become commonplace for major trading platforms in the year ahead.
In an official post, the exchange explained that “all customers who need to withdraw virtual assets to an external wallet” including those run by “domestic and overseas corporations” will need to register the wallets with the platform.
Coinone appears to want to steer customers away from wallets that do not perform know-your-customer (KYC) protocols in a bid to avoid inadvertently playing a part in money-laundering
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