• Bithumb’s bank switch proposal to KB Kookmin Bank under FIU review.
• FIU clarified that no final decision has been made on Bithumb’s real-name account partner change.
• NH Nonghyup Bank remains silent on contract renewal details with crypto exchanges like Bithumb.

The Financial Intelligence Unit (FIU) of South Korea’s Financial Services Commission (FSC) is currently assessing Bithumb’s proposal to change its real-name account partner bank. Even so, Bithumb has submitted draft data for renewing its Virtual Asset Service Provider (VASP) license, which includes the potential switch from NH Nonghyup Bank to KB Kookmin Bank.

An FIU official stated that the review of Bithumb’s request is still in progress, and no final decision has been reached. The crypto exchange is actively engaging in discussions with financial authorities, but no conclusions have been drawn yet.

A Bithumb representative echoed this, confirming that discussions with authorities are ongoing. The official noted that talks about converting to real-name accounts are still underway, and no decisions have been made yet.

Read also: South Korea’s FSS Initiates On-Site Inspections of Crypto Exchang…

The post Bithumb’s Bank Switch Under Review by South Korean Regulator appeared first on Coin Edition.

• Bithumb’s bank switch proposal to KB Kookmin Bank under FIU review.
• FIU clarified that no final decision has been made on Bithumb’s real-name account partner change.
• NH Nonghyup Bank remains silent on contract renewal details with crypto exchanges like Bithumb.

The Financial Intelligence Unit (FIU) of South Korea’s Financial Services Commission (FSC) is currently assessing Bithumb’s proposal to change its real-name account partner bank. Even so, Bithumb has submitted draft data for renewing its Virtual Asset Service Provider (VASP) license, which includes the potential switch from NH Nonghyup Bank to KB Kookmin Bank.

An FIU official stated that the review of Bithumb’s request is still in progress, and no final decision has been reached. The crypto exchange is actively engaging in discussions with financial authorities, but no conclusions have been drawn yet.

A Bithumb representative echoed this, confirming that discussions with authorities are ongoing. The official noted that talks about converting to real-name accounts are still underway, and no decisions have been made yet.

Read also: South Korea’s FSS Initiates On-Site Inspections of Crypto Exchang…

The post Bithumb’s Bank Switch Under Review by South Korean Regulator appeared first on Coin Edition.