#SouthKoreaCryptoPolicy South Korea introduced a system on Tuesday that prevents the buying and selling of cryptocurrencies in the country using anonymous accounts to avoid money laundering and other crimes at a time marked by governments' efforts to regulate these markets.

Starting this Tuesday, South Korean investors will not be able to make transactions in their virtual wallets unless the name of their cryptocurrency accounts matches the name of the bank accounts to which they are linked, as explained at the time by the Financial Services Commission (FSC).

From now on, so-called 'anonymous accounts' (those with false names or that do not correspond to the bank account) that have been used for buying and selling cryptocurrencies will be disabled, according to a statement from the FSC at the time.

The regulation, which also prevents foreigners from buying and selling digital currencies at South Korean exchanges, is part of the efforts announced by the Seoul government to curb money laundering and excessive speculation that experts in the country's cryptocurrency markets have warned about.