According to PANews news on June 14, according to Biz Watch, the Korean Digital Asset Exchange Association (DAXA) and the five banks that provide real-name accounts to the country’s encryption exchanges will hold a meeting on June 15 to discuss “standardization of real-name account services.” Topics include transfer limits, whether to allow corporate banking, and user deposit protection measures. The five banks are Nonghyup Bank, K Bank, Jeonbuk Bank, Kakao Bank and Shinhan Bank.

According to the plan, the maximum daily deposit limit for non-counter bank accounts for cryptocurrency investment will be halved from 10 million won (about 7,817 U.S. dollars) to 5 million won (about 3,909 U.S. dollars). However, the deposit limit for customers who have passed identity verification and signed a written commitment will remain unchanged, with a maximum of 100 million won per transaction and a daily limit of 500 million won. However, withdrawals from ordinary accounts will be limited to 100 million won per visit and 500 million won per day. In addition, banks will conduct regular inspections of customers using exchanges to prevent money laundering and strengthen management of ultra-high-risk customers.