South Korean Government Bans Privacy Coins as Part of Anti-Money-Laundering Drive
According to a report by Asia Times, the South Korean government has decided to go ahead with the plan to ban all privacy-focused digital currencies as part of its drive to prohibit money-laundering in the country. Per the report, coins such as Monero (XMR), Zcash (ZEC), and Dash (DASH) will no longer be allowed to be sold on crypto exchanges after March 21, 2021.
“Most mainstream crypto coins, such as bitcoin, are not completely anonymous: at the very least they make public the wallet addresses involved in the transaction as well as the amount. While financial watchdogs across the world are slowly warming up to premier cryptocurrencies such as bitcoin (BTC) and ether (ETH), it would seem there is still a long way to go for them to embrace privacy-focused cryptocurrencies.
