Korean cryptocurrency exchange bans withdrawals to unregistered wallets

Coinone, certainly one of the largest cryptocurrency exchanges in South Korea, has announced that withdrawals can’t be made to exterior wallets which are not registered on the change.

Coinone mentioned that the verdict will probably be carried out from January 24, 2022, and pre-sign in for exterior wallets. mentioned that the length is from December 30, 2021 to January 23, 2022.

IN LINE WITH Coinone, a Korean cryptocurrency alternate, all withdrawals to unregistered external wallets can be completely prohibited.@ CoinoneOfficial pic.twitter.com/qof7PrHOqB

— Bitro (@bitroio) December 29, 2021

Wallets akin to MetaMask and Ledger is not going to give you the chance to be registered

Additionally, users can simplest use their own wallets. It was mentioned that a pockets address that has now not been authenticated can’t be registered. CONSISTENT WITH The Block, considering wallets comparable to MetaMask and Ledger don’t require authentication, Coinone customers will not be able to withdraw their crypto money to those wallets. in addition, anyone else’s pockets won’t be registered on the platform.

in the remark made through Coinone, it used to be stated that the decision was taken towards illegal activities comparable to cash laundering.

After Coinone, the country’s different major inventory exchanges Upbit , Bithumb and Korbit are expected to take identical measures.