South Korean Crypto Exchange Signs With Security Companies to Lock Down Tokens

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Coinone has signed deals with CertiK and Xangle to improve security and enhance disclosure, according to an announcement from the company.The number three Korean crypto exchange says that it will be working with Xangle on investor protection and project transparency. With CertiK, it will be focused on the security of the code, technology verification, and project information security.The moves come as crypto exchanges are the subject of heightened scrutiny in South Korea and globally. With concerns about money laundering and with FATF guidelines beginning to have an impact, banking relationships are being tested and financial institutions in Seoul are refining their KYC programs and processes.Just today, it was reported that the Korean Financial Services Commission (FSC) is planning to directly supervise the exchanges.With concerns about hacking on the rise, Korea’s Fair Trade Commission (FTC) in June called for a change in the terms and conditions of use for crypto exchanges,…

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