Real-name account partnership of KakaoBank shaken by increasing legal risks.
PicaCoin, which received 3 billion KRW in listing fees, and FuryEverCoin, involved in the Gangnam murder case, are among the coins listed on Coinone that have raised concerns. In response, KakaoBank, which provided real-name accounts for Coinone, has stated that depending on the outcome of the prosecution's investigation, they may terminate their contract, drawing attention to the result.
On the 12th, according to NBN TV’s investigation, KakaoBank stated, “We have been faithfully fulfilling our anti-money laundering obligations in accordance with the Act on Reporting and Using Specified Financial Transaction Information (Special Act).” Additionally, they mentioned, “We cannot disclose the specific details of the real-name account contract with Coinone, but if criminal activity related to coins listed on Coinone, such as FuryEverCoin and PicaCoin, is uncovered through the ongoing investigation by the prosecution and police, the real-name account contract may be terminated.”
(omitted)
Hyeonsu “Elliot” Jin, managing partner at Decent Law Firm, commented, “According to Article 7, Paragraph 3, Subparagraph 2 of the Special Financial Information Act, a contract with a bank is essential to operate a KRW exchange. It is likely that the contract includes a clause allowing termination if criminal activity or other legal issues arise. Depending on the results of the prosecution's investigation, if Coinone loses its contract with KakaoBank and fails to secure another bank, it could lose its status as a KRW exchange.”
