Industry analysts predict that major South Korean cryptocurrency exchanges such as Upbit, Bithumb, and Korbit will follow Coinone in banning transactions to unverified wallets.

Coinone declared yesterday that it will reject deposits from Private wallets that have not been verifiedThe risk of money laundering will be reduced starting January 24. All Korean exchanges (including Upbit, Bithumbs, Korbits and 20 other) are expected implement the same or similar measures as Coinone prior to March 25, or earlier. According to the Korean government SetExchanges must track all transactions that occur on or off their platform by the end of March.