One of South Korea’s largest cryptocurrency exchanges, Bithumb, has just announced that it will be halting trade on its platform in 11 different countries. Bithumb cited money laundering concerns and will comply with the anti-money laundering norms and is blocking residents in the jurisdictions of the Non-Cooperative Countries and Territories (NCCT) blacklist.
According to coinmarketcap, the exchange is the fifth largest in the world by trade volume. All new applications coming from these countries will be refused starting today, and all prior accounts will disappear by June 21st.
A spokesperson from Bithumb said:
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