South Korean crypto exchanges set to renew deal with banks amidst fear

South Korean crypto exchanges are planning to renew their banking deals with domestic banks. However, the exchanges are feeling pessimistic about doing so owing to fear of recent regulations. With the agreement between local banks and South Korean exchanges set to expire by month-end, exchange firms are set to be putting all energy into negotiations with banks. Existing regulation rules that the country’s exchanges are compelled to enter into six-month renewable arrangements with domestic banks. Both parties are also supposed to meet specific criteria regarding customers’ withdrawal and deposits. These criteria are to be made using government-sanctioned real name-verified, social