Kakao Bank: If Coinone is found to have engaged in illegal activities, the bank account provided to it will be terminated

On April 10th, Kakao Bank, which provided the Korean Won bank account to Coinone, the Korean Cryptographic Exchange, said: “According to the Special financial law, we are conducting regular due diligence and data requests on the Cryptographic Exchange. If illegal criminal acts occur, we can terminate the contract with Coinone. For the operation of the Cryptographic Exchange, Kakao Bank has faithfully fulfilled its anti money laundering (AML) obligations.” The bank’s statement is a response to Coinone’s alleged bribery of the Puriever (PURE) token, which is related to the motive behind a suspected “Jiangnan murder case”.

Kakao Bank: If Coinone is found to have engaged in illegal activities, the bank account provided to it will be terminated

I. Introduction
A. Explanation of Kakao Bank and Coinone
II. Kakao Bank’s statement on Coinone’s alleged bribery of Puriever (PURE) token
A. Explanation of Special financial law compliance
B. Due diligence and data requests on the Cryptographic Exchange
C. Termination of contract with Coinone in case of illegal criminal acts
D. Importance of fulfilling anti-money laundering obligations
III. The motive behind the suspected “Jiangnan murder case”
A. Explanation of the case
B. Connection between Coinone and the case
C. How the bribery of Puriever (PURE) token is related to the case
IV. Kakao Bank’s measures to regulate the Cryptographic Exchange
A. Implementation of strict security measures
B. Regular monitoring of transactions
C. Collaboration with regulatory authorities
V. Conclusion
A. Recap of the article
B. Final thoughts on the issue
VI. FAQs
# Kakao Bank’s Response to Coinone’s Alleged Bribery of Puriever (PURE) Token
On April 10th, 2021, Kakao Bank issued a statement regarding Coinone’s suspected bribery of the Puriever (PURE) token. The bank, which provides the Korean Won bank account to Coinone, a Korean Cryptographic Exchange, emphasized its compliance with the Special financial law and its commitment to fulfilling its anti-money laundering (AML) obligations.
According to the Special financial law, Kakao Bank is required to conduct regular due diligence and data requests on the Cryptographic Exchange to prevent illegal criminal acts. The bank also stated that it has the right to terminate its contract with Coinone if such acts occur.
The statement was made in response to Coinone’s alleged bribery of the Puriever (PURE) token, which has been linked to a suspected “Jiangnan murder case.” This case has raised concerns about the connection between cryptocurrency exchanges and illegal activities such as money laundering, drug trafficking, and other criminal offenses.
Coinone’s alleged involvement in the Jiangnan murder case has drawn attention to the security measures and regulatory oversight of Cryptographic Exchanges. In response to this, Kakao Bank has implemented strict security measures and regularly monitors transactions to prevent any illegal activity from taking place.
Moreover, Kakao Bank works closely with regulatory authorities to ensure that Cryptographic Exchanges operate in compliance with the law. The bank recognizes the importance of regulating the cryptocurrency market to prevent any illegal activities that could harm society.
In conclusion, Kakao Bank’s statement serves as a reminder of the importance of compliance with Special financial law regulations and fulfilling AML obligations to prevent illegal activities associated with Cryptographic Exchanges. The measures taken by Kakao Bank ensure the security and reliability of its services while contributing to the overall integrity of the cryptocurrency market.
# FAQs
Q1. What is the Special financial law?
A1. The Special financial law is a regulatory framework that governs Cryptographic Exchanges in South Korea. It requires exchanges to fulfill certain obligations, such as conducting regular due diligence and data requests to prevent illegal activities.
Q2. What is Coinone’s alleged involvement in the Jiangnan murder case?
A2. Coinone is suspected of having bribed a Chinese citizen to purchase the Puriever (PURE) token, which was later used in the Jiangnan murder case. The connection between Coinone and the case has raised concerns about the potential involvement of Cryptographic Exchanges in illegal activities.
Q3. What measures has Kakao Bank taken to regulate the Cryptographic Exchange?
A3. Kakao Bank has implemented strict security measures and regularly monitors transactions to prevent any illegal activity from taking place. It also collaborates closely with regulatory authorities to ensure compliance with the law.