Korean Government May Face Suits

The revised Act on Reporting and Use of Certain Financial Transaction Information could cause a shutdown of multiple cryptocurrency exchanges. The exchanges could sue the South Korean government under these circumstances. Each exchange must submit a document by Sep. 24 showing that a bank has given a real-name bank account according to the act. Cryptocurrency exchanges in South Korea, considered to have many coins on their trading platforms, are at risk of being denied access to personal bank accounts, a…