The seven largest banks in South Korea – KB Kookmin, Shinhan, Hana, Woori, Nonghyup, Toss Bank and Jeonbuk Bank – invited the Committee for Political Assembly and representatives of the Party of People’s authorities to remove restrictions on the partnership from cryptocurrency exchanges.

Bankers at a meeting with deputies said that the current restriction of “one crypto -rope – one bank” requires an urgent review. This rule was introduced at the early stage of the development of South Korea crypto, when the authorities sought to ensure transparency and prevent financial crimes associated with digital assets, representatives of the banks explained.

However, now the restriction creates an imbalance and leads to unfair advantages that prevent honest competition and limit the capabilities of banks to expand their presence in the digital asset market.

“The current exclusivity model is outdated. It does not take into account the changed market needs, an increase in user activity and creates barriers for banks that entered the cryptocurrency sector later,-allowing those who took the niche earlier, ”explained Woori Bank President Jung Jin-Wan.

The banker said that the lifting of the legislative prohibition and permission to create “multi -Bank partnerships” with crypto -rhms will allow customers to offer more opportunities, and also satisfy the growing demand for cryptocurrencies.

Earlier, the head of the virtual assets department of the Financial Services Commission (FSC) Kim Sung-Jin said that digital sites are not yet ready to strictly comply with the requirements of laundering (Anti-Money Laundering) and this significantly prevents the admission of international investors to trade in national cryptnnka.