BitHumb has announced the banning of trading in 11 countries in compliance with anti-money laundering (AML) policies. The crypto exchange—which is the biggest one in all of South Korea—will be blocking transactions by residents of those listed in the Non-Cooperative Countries and Territories (NCCT) blacklist.
The 11 countries are as follows:
- North Korea
- Bosnia and Herzegovina
- Sri Lanka
- Trinidad and Tobago
These countries are listed because the Financial Action Task Force (FATF) sees them as countries that do not have sufficient AML measures to combat money laundering and illegal activities that may threaten the international finance space.
Effective May 27, those from the 11 countries may no longer apply as new users on the exchange. Existing users from the 11 countries will have their accounts disabled on June 21 and have until then to withdraw their funds.