Starting today,... six Korean banks will begin allowing the simultaneous opening of accounts, deposits and withdrawals for cryptocurrency trading,... as well as transfers of funds between such accounts -- but with some new rules.
Investors will now be *required to convert their virtual bank accounts to real-name accounts in order to continue trading.
Deposits and withdrawals are allowed only between those real-name bank accounts and matching crypto-exchange accounts within the same bank.
Banks with the services include Shinhan, Kookmin, Nonghyup and Industrial Bank of Korea.
And all this,... as the Korean government continues to crackdown on speculative trading and possible criminal activities.
The Financial Services Commission says it will closely monitor crypto trading that exceeds one-million won, or some nine-hundred U.S. dollars a day, or 18-thousand dollars a week.
It will also watch accounts owned by corporations or groups, while reporting any suspicious activity to the authorities.