The suspension on Bithumb’s new account registration may be over after the issue is settled with Nonghyup Bank.
Korea’s most popular digital currency exchange and Nonghyup Bank are planning to sign an agreement that consents Bithumb to assign 'real-name virtual accounts' or virtual bank accounts to its users.
South Korea requires individual virtual bank accounts be attached to the user’s verified identity. Korean banks are obligated to closely monitor the transactions happening within due to anti-money laundering procedures.
Bithumb was suspended for almost a month citing 'service improvement process' as the cause. During the suspension, the exchange has seen its trading volume drop by 40%.