South Korea’s Financial Body have decided to actually Ban Exchanges from Providing Privacy Coins

South Korea's Financial Services Commission has requested exchanges to quit managing in tokens that might be utilized for tax evasion, as indicated by a public statement gave on November 2. The declaration explicitly alludes to "dark coins", which are protection coins.

The administrative body refreshes the Special Payments Act to handle issues of tax evasion that may emerge from digital currency

It explicitly featured security coins, which it alluded to as dark coins, for example, Zcash (ZEC) and Monero (XMR)

Extra changes incorporate updates to KYC and AML methodology, ordering that exchanges and different suppliers request that clients connect their records to their genuine names by means of government character numbers

The progressions will happen from March 2021, with exchanges requested to offer a report on activities inside a half year of the law's foundation

South Korean exchange UpBit delisted a few protection coins in September 2019, refering to tax evasion concerns and Financial Action Task Force (FATF) guideline; OKEx's South Korean branch had done likewise around a similar time

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