TechFlow, April 10 — According to The Block, executives from South Korea's five major commercial banks (KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NH Nonghyup Bank) met with ruling party lawmakers, urging them to relax regulations restricting bank-crypto exchange partnerships. Woori Bank CEO Jung Jin-wan specifically proposed allowing exchanges to partner with multiple banks instead of the current "one exchange, one bank" model, aiming to reduce systemic risk and expand consumer choice.
Under current South Korean regulations, exchanges must collaborate with banks to offer fiat-to-crypto services, and users are required to register real-name bank accounts to access deposit and withdrawal functions.
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