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South Korea Daybit exchange to shut down as regulations take toll Business South Korean digital currency exchanges are struggling under the weight of new regulations. The latest victim is Daybit, which announced that it’s shutting down in a month. Daybit cited the toughened regulations that seem to only favor the big exchanges, while pushing the smaller rivals out of business, as the reason for its closure. South Korea has been in the past few years striving to regulate the digital currency industry. One of the measures it has put in place relates to anti-money laundering and identity verification requirements. This regulation came into effect a month ago. While it will protect the Korean investors, some of the requirements have proven to be too much for the smaller exchanges.

United statesSouth koreaSouth koreanBig fourWallets other service providersShinhan bankChain partnersUsing specified financial transaction informationKorean heraldFinancial intelligence unitCoingeek liveDigital currencyGlobal complianceஒன்றுபட்டது மாநிலங்களில்தெற்கு கொரியாதெற்கு கொரியன்