The measure took effect on May 27 with Bithumb no longer accepting new users from the 11 nations listed by the NCCT initiative. South Korean cryptocurrency exchange Bithumb will block the transactions of users' resident in the blacklisted Non-Cooperative Countries and Territories ( NCCT ), including Iran , North Korea and Iran . The NCCT , compiled by the Financial Action Task Force , includes countries that have failed to take appropriate measures to combat money laundering, terrorist financing and other risks for the international financial system. Meanwhile, Non-Cooperative Countries and Territories announced it has tightened its own anti-money laundering policies, applying recommendations from the South Korean government and Bithumb to increase transparency and prevent market manipulation.
South Korean cryptocurrency exchange Bithumb will block the transactions of users' resident in the blacklisted Non-Cooperative Countries and Territories ( NCCT ), including Iran , North Korea and Iran . The NCCT , compiled by the Financial Action Task Force , includes countries that have failed to take appropriate measures to combat money laundering, terrorist financing and other risks for the international financial system. Meanwhile, Non-Cooperative Countries and Territories announced it has tightened its own anti-money laundering policies, applying recommendations from the South Korean government and Bithumb to increase transparency and prevent market manipulation.