In a move to enhance transparency, South Korean cryptocurrency exchange Zeniex has postponed its launch from January to mid-February. The delay follows a last-minute decision to integrate real-name verified virtual account services—a step aimed at improving fund traceability in digital asset transactions.
About Zeniex Exchange
Founded by financial experts from China and South Korea, Zeniex will support trading for nine major cryptocurrencies:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Qtum (QTUM)
- EOS (EOS)
- Bytom (BTM)
- 0x (ZRX)
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Leadership Vision
Founder Choi Kyung-joon brings decades of financial sector experience, having invested across:
- Equity funds
- Real estate
- Pre-IPO companies
In previous interviews, Choi outlined Zeniex's roadmap to "transform traditional finance through virtual currencies." Future plans include expanding into:
- Crypto derivatives mirroring traditional financial products
- Integrated banking services
- Investment management
- Insurance products
- Real estate transactions (including rent payments and property sales)
The exchange has already partnered with multiple banks to provide:
- User identity verification
- Account transfer services
Regulatory Alignment
The implementation of real-name accounts aligns with Choi's November 2017 statements predicting government measures to:
- Encourage legitimate cryptocurrency use
- Curb speculative bubbles and criminal activities
New Korean Regulations
Since January 2018, South Korean users must comply with:
- Single verified account requirement for all crypto transfers
- Full transaction traceability
- Tax compliance frameworks
Choi maintains that bringing virtual currencies into regulatory frameworks increases:
- Social acceptance
- Economic integration
- Fraud prevention effectiveness
FAQ
Q: Why did Zeniex delay its launch?
A: To implement mandatory real-name account verification systems.
Q: Which cryptocurrencies will Zeniex support?
A: Nine major coins including BTC, ETH, LTC, and EOS.
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Q: What banking services will Zeniex offer?
A: Identity verification, account transfers, and future traditional finance integrations.
Q: How do new Korean regulations affect users?
A: Requires single verified bank account for all transactions with full traceability.
Q: What's Zeniex's long-term vision?
A: To bridge traditional finance and cryptocurrency through comprehensive financial services.