South Korea’s top cryptocurrency exchanges, even as competitors, have launched a joint initiative to strengthen their anti-money laundering efforts. According to a joint press release, Bithumb, Upbit, Corbit, and Coinone announced that they have established a joint anti-money laundering initiative. The plan includes a hotline between the four entities that share real-time information on suspected/proven trading activities. They include cases related to unregistered security offerings, exploitative lending, and voice phishing. The exchanges will also set up a shared database of suspicious crypto wallet addresses. It would assist the companies to detect the distribution of larger-quantity amounts from multiple trading platforms to
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