Jinse Finance reported that South Korea’s financial authorities are formulating standards for the issuance of real-name accounts for virtual asset (cryptocurrency) exchanges. The financial authority is working on a "bank real-name account issuance standard" that will only allow banks with sufficient anti-money laundering (AML) capabilities to provide real-name accounts to exchanges. The Financial Intelligence Unit (FIU) of the Financial Services Commission plans to divide the types of bank real-name account issuance into "first issuance" and "multiple issuance" for management, and will provide guidelines for banks, requiring banks to establish dedicated teams for each exchange, To conduct customer verification, supplement suspicious transaction reports and conduct independent audits of cryptocurrency anti-money laundering operations.