- Korean banks received a commission from crypto exchanges for real-name verification.
- They received around $14.7M.
Korean banks have received a commission from crypto exchanges for real-name verification.
According to Hye-won Han, a local news reporter, commercial banks that provide real-name verification accounts to users of crypto exchanges have more than doubled their fees in the second quarter of this year than in the first quarter.
In addition, data from a member of the National Assembly’s Political Affairs Committee, Yoon Chang-Hyeon, says that banks have signed contracts with cryptocurrency exchanges. These exchanges include Upbit, Bithumb, Coinone, and Korbit.
More so, Chang-Hyeon noted that the banks received a total of 16.97 billion won in commissions for the quarter. It is wor...