Participants in the agreement said the maximum daily transaction limit for impersonal bank accounts used for investing in cryptocurrency will be cut in half, from 10 million won (about $7817), to 5 million won (about $3909).
Authorized customers who have been identified and made a written commitment to comply with regulatory requirements will retain a limit of 100 million won per single transaction (about $782,000) and a total daily limit of 500 million won (about $390,000).
The restrictions will allow cryptocurrency companies and the financial market to be more responsive to emerging threats, as well as preserve funds in customer deposits, according to the agreement.
On Tuesday, June 13, Korean digital asset management platform Haru Invest removed
Medium, LinkedIn and Instagram accounts. In addition, the administration of the company notified users about the closure of offices and the suspension of deposit and withdrawal of funds.