#CryptoCharts101 South Korea launched on Tuesday a system that prevents the buying and selling of cryptocurrencies in the country with anonymous accounts, in order to avoid money laundering and other crimes at a time marked by efforts of states 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, the so-called 'anonymous accounts' (those with fake names or that do not correspond to the bank account) that have been used for the buying and selling of cryptocurrency will be disabled, as the FSC explained in a statement at that time.

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