All 200 South Korean Exchanges May Shut Down Says Regulator

The 200 crypto exchanges in South Korea may face closure by September as per Eun Sung-soo, the chair of South Korea’s Financial Services Commission. The decision would be based on the new anti-money laundering laws(AML) that came into force last year and also included cryptocurrencies. As per new regulations, crypto exchanges operating in the country must implement all the AML guidelines and partner with local banks, and become information security management certified.