Top South Korean Crypto Exchange Bans Trading In 11 Nations

Investing.com - South Korea's biggest cryptocurrency exchange Bithumb will no longer allow trading by customers in North Korea, Iran, Iraq and eight other countries in an effort to prevent the use of digital coins in money laundering and terror financing. The 11 countries are considered high-risk locations under the Non-Cooperative Countries and Territories Initiative, NCCT, which was established by the G7. Countries on the NCCT blacklist are considered to have insufficient regulations and policies to prevent criminal activity. The list is updated on a regular basis..Financial regulators and law enforcement officials around the world have warned that cryptocurrencies have become a tool of organized crime and terror networks.Europol recently broke up an international crime ring that was laundering drug money through a Finnish crypto exchange.