Bithumb to close USDT market and terminate order book sharing with Australia's Stellar Exchange

Techub News, according to Daum, under nearly two consecutive months of intense regulatory scrutiny, South Korean cryptocurrency exchange Bithumb announced it will close its USDT market at 11:00 Hong Kong time on November 28 and terminate its order book sharing service with Australia's Stellar Exchange. Trading for the 10 related tokens will be suspended simultaneously. The Korea Financial Intelligence Unit (FIU) is concerned that such overseas linkages weaken the effectiveness of 'Know Your Customer (KYC)' and 'Travel Rule' implementation, posing Anti-Money Laundering (AML) risks. The specific review results and subsequent rectification requirements are subject to disclosure by the regulatory authorities.