#Bithumb Bank Change#

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South Korean cryptocurrency exchange Bithumb is applying to change its partner bank to KB Kookmin Bank, and its application has been accepted by the Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC). If approved, customers trading cryptocurrencies on Bithumb will have to use Kookmin Bank accounts from March 24. Under Korean law, cryptocurrency exchanges must establish a real-name account partnership with a designated commercial bank to trade Korean won. Bithumb has had a real-name account contract with Nonghyup Bank since 2018 and has been trying to change its partner bank since last year.

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South Korean cryptocurrency exchange Bithumb is applying to change its partner bank to KB Kookmin Bank, and has been accepted by the Financial Intelligence Unit (FIU) of the Financial Services Commission. If approved, Bithumb users will need to use Kookmin Bank accounts for cryptocurrency transactions starting March 24th. Under current South Korean law, domestic cryptocurrency exchanges operate under a "one company, one bank" principle, requiring platforms to establish real-name account partnerships with designated commercial banks for Korean won transactions. Bithumb has had a real-name account contract with Nonghyup Bank since 2018, but has been attempting to switch partner banks since last year. The specific reason for this application to change banks has not been disclosed, but may be related to Nonghyup Bank's stance on cryptocurrency trading.

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Bithumb is applying to change its partner bank from Nonghyup Bank to KB Kookmin Bank.

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If approved, customers trading cryptocurrencies on Bithumb will have to use Kookmin Bank accounts from March 24.

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Under Korean law, cryptocurrency trading platforms must establish real-name account partnerships with designated commercial banks to trade Korean won, implementing the "one company, one bank" principle.

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Bithumb signed a real-name account contract with Nonghyup Bank in 2018 and has been trying to change its partner bank since last year.

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