Bithumb will stop withdrawing funds to the unverified users' wallets

by in Cryptocurrency News

Bithumb

South Korean cryptocurrency exchange Bithumb periodically states that it will adhere to its country's laws to combat the criminal use of digital assets.

As part of compliance with legal and regulatory requirements, this trading platform will stop the withdrawal of funds to the wallets of unverified users. The Bithumb administration published a corresponding statement at the beginning of this week.

The new order of service will come into force in two days.

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In December, another Korean bitcoin exchange, CoinOne, introduced the same withdrawal procedure.

However, users will have the option to send funds to the addresses of the trading platforms Kraken, Binance US, Bitstamp, as well as ByBit, and Blockchain.com.

Other major Korean platforms Upbit and Korbit have not yet taken any restrictive measures and are in no hurry to introduce a ban on withdrawing funds to unidentified addresses.