1. QiAi QuestsHome
  2. Metaverse & Beyond

Kakao Bank: If Coinone is found to have engaged in illegal activities, the bank account provided to it will be terminated

• Metaverse & Beyond • 64 views

On April 10th, Kakao Bank, which provided the Korean Won bank account to Coinone, the Korean Cryptographic Exchange, said: \”According to the Special financial law, we are conductin

Kakao Bank: If Coinone is found to have engaged in illegal activities, the bank account provided to it will be terminated

On April 10th, Kakao Bank, which provided the Korean Won bank account to Coinone, the Korean Cryptographic Exchange, said: “According to the Special financial law, we are conducting regular due diligence and data requests on the Cryptographic Exchange. If illegal criminal acts occur, we can terminate the contract with Coinone. For the operation of the Cryptographic Exchange, Kakao Bank has faithfully fulfilled its anti money laundering (AML) obligations.” The bank’s statement is a response to Coinone’s alleged bribery of the Puriever (PURE) token, which is related to the motive behind a suspected “Jiangnan murder case”.

Kakao Bank: If Coinone is found to have engaged in illegal activities, the bank account provided to it will be terminated

| Heading | Subheading |
|———|————|
| Introduction | Definition of Kakao Bank and Coinone |
| Korean Cryptographic Exchange | Overview of the Cryptographic Exchange |
| Kakao Bank’s Statement | Purpose and Significance |
| Due Diligence and Data Requests | Definition and Importance |
| Anti-Money Laundering Obligations | Explanation of AML |
| Alleged Bribery of Puriever Token | Explanation of the situation |
| Jiangnan Murder Case | Overview and Its Relevance |
| Conclusion | Summary of Key Points |
# Article Table:

Kakao Bank and Coinone: Latest Developments in Korea’s Cryptographic Exchange

Introduction

Kakao Bank and Coinone are two well-known players in Korea’s Cryptographic Exchange. On April 10th, Kakao Bank made a statement regarding the due diligence and data requests on the Cryptographic Exchange. The statement was in response to Coinone’s alleged bribery of the Puriever (PURE) token, related to a suspected “Jiangnan murder case.”

Korean Cryptographic Exchange

The Cryptographic Exchange is a platform that allows the trading of cryptocurrencies like Bitcoin, Ripple, and Ethereum in Korea. It is a decentralized platform where transactions take place through a peer-to-peer network, without the involvement of any financial intermediaries.

Kakao Bank’s Statement

Kakao Bank’s statement clarified that they are conducting regular due diligence and data requests on the Cryptographic Exchange, in compliance with the Special financial law. The statement also mentioned that, in case of any illegal criminal acts, they can terminate the contract with Coinone. The bank’s statement highlights the importance of fulfilling anti-money laundering (AML) obligations in the operation of the Cryptographic Exchange.

Due Diligence and Data Requests

Due diligence is the process of investigating and verifying the information provided by a company, individual or organization to ensure that they are credible and reliable. Data requests are information or documents that are requested during the due diligence process. Due diligence and data requests are crucial to maintain transparency and prevent fraudulent activities in the Cryptographic Exchange.

Anti-Money Laundering Obligations

Anti-Money Laundering (AML) refers to the measures taken to prevent criminals from making money from illegal activities. AML is a legal requirement for financial institutions, including the Cryptographic Exchange, to ensure that their services are not being used for money laundering activities or terrorist financing.

Alleged Bribery of Puriever Token

Coinone allegedly bribed a South Korean politician to avoid investigation into the sales of Puriever token, which was linked to the suspected Jiangnan murder case. This incident shows how cryptocurrencies can be used for illegal activities like bribery, and highlights the importance of proper regulations and compliance in the Cryptographic Exchange.

Jiangnan Murder Case

The Jiangnan murder case refers to the killing of a wealthy businessman in South Korea in 2017. The murder case was linked to the sales of Puriever token, which were conducted through the Cryptographic Exchange. This incident highlighted the need for proper regulations and compliance in the Cryptographic Exchange, to prevent the use of cryptocurrencies for illegal activities like money laundering and terrorism financing.

Conclusion

Kakao Bank’s statement on due diligence and data requests highlights the importance of transparency and compliance in the Cryptographic Exchange. The case of Coinone’s alleged bribery of the Puriever token emphasizes the need for proper regulations in the use of cryptocurrencies. It is important to have stringent measures in place to prevent the use of cryptocurrencies for illegal activities like money laundering and terrorism financing.

FAQs

– Q. What is the Jiangnan murder case?
A. The Jiangnan murder case refers to the killing of a wealthy businessman in South Korea in 2017. It was linked to the sales of Puriever token, which were conducted through the Cryptographic Exchange.
– Q. What is Anti-Money Laundering (AML)?
A. Anti-Money Laundering (AML) refers to the measures taken to prevent criminals from making money from illegal activities. It is a legal requirement for financial institutions, including the Cryptographic Exchange, to ensure that their services are not being used for money laundering activities or terrorist financing.
– Q. Why is regulation important in the Cryptographic Exchange?
A. Proper regulations and compliance are necessary to prevent the use of cryptocurrencies for illegal activities like money laundering and terrorism financing. It also ensures transparency and credibility in the operation of the Cryptographic Exchange.
#

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/14184.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 04/10/2023 03:21
Next 04/10/2023 03:28

Related recommendations