South Korean cryptocurrency account system of ending the current practice that allowed for anonymous trading of cryptocurrency. The govt has adviced people to open real name accounts same as the bank acc names in order to deposit money into cryptocurrency trading.
The government has ordered converting existing virtual cryptocurrency accounts to real-name accounts.
Six major banks of South Korea are working on this new rule. These banks are Shinhan Bank, Nonghyup Bank, Industrial Bank of Korea, Kookmin Bank, Hana Bank, and Gwangju Bank