It looks like the South Korean government has abandoned its plans to impose a blanket ban on cryptocurrency trading in the country, but will nevertheless impose certain restrictions.

According to reports the authorities will enforce a ban on anonymous transactions and trading through virtual anonymous bank accounts, starting from January 30. Instead, six South Korean banks will be issuing new trading accounts, in compliance with KYC requirements. This means that the name on the traders’ account at the exchange and in the bank must match.

According to Financial Services Commission (FSC) vice-chairman Kim Yong-beom, on the day the banks roll out those new accounts, anonymous trading will be banned.

Source: https://www.forexbrokerz.com/news/South-Korea-to-forbid-anonymous-cryptocurrency-trading-blanket-ban-averted