One of the largest stock exchanges in the world, Bithumb, responding to the world, allegations of money laundering and includes 11 countries from the use of the stock market. Furthermore, it should be for unregistered users a customized limit for withdrawals.
According to Bitfinex and Poloniex Bithumb to take additional measures to ensure that the laws to combat money laundering and terrorism are complied with.
The South Korean Bithumb, the world’s largest crypto-currency stock exchange the fifth to the volume of trade, prohibits the use of their platform in 11 countries. These include the following:
- Sri Lanka
- Trinidad and Tobago
These measures are to be observed from the point of view of the company is required by the national laws and combat money laundering. A local news Agency (freely translated):
Bithumb, South Korea’s largest exchange for the crypto currency, trading digital assets with North Korea, Iran, Iraq and eight other countries prohibit, which are regarded as high-risk jurisdictions.
Users from these countries will be blocked from now on. New users must identify themselves with their complete identity.
Furthermore, we restricted the withdrawal volume for non-person alien designated users. This follows the same intent, the prevention of criminal activities such as money laundering and terrorism.
The company carries out (freely translated):
We have decided to reduce the payout amounts in Korean Won gradually, because there is concern that Bank accounts are not converted payments may be the target of various financial crimes.
Currently, the Limit is 50 million Won (about 40,000€) for daily withdrawals and a Limit of 300 million Won (approximately 240,000 euros) per month.
Although there are no official confirmations or hints that could extend this process to all known crypto-currency exchanges.