The country's 6 major banks have been told that they must follow through with the original plan and install the system that would end the anonymous trading of cryptocurrencies.
South Korean banks have reportedly reversed their decisions to stop servicing cryptocurrency accounts. "They will stick to their initial plans to allow clients to open accounts for cryptocurrency transactions using their real names within the month," Korea Joongang Daily reported.
The original plan has been for banks to stop issuing virtual accounts and install the new government-mandated, real-name identification system. From that point on, they would only issue real name accounts. This new system is expected to be introduced around January 20.
The news outlet detailed: