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Korean financial authorities close 11 cryptocurrency platforms before the deadline

Korean financial authorities close 11 cryptocurrency platforms before the deadline

Financial authorities of South Korea intend to stop 11 platforms that work with digital assets. According to the local news feeds, the reason was that they were allegedly involved in a scam and illicit activities.

Meantime the deadline for all platforms to fit the country’s laws is drawing near, and most of them have not been able to meet the requirements.

The 11 crypto exchanges allegedly used fraudulent collective bank accounts, and the FSC wants to inform the prosecution and police of the alleged illicit acts. The crypto platforms will find it impracticable to follow these rules in order to continue their work. These exchanges were not revealed.

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