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South Korean department of Singapore-based cryptocurrency exchange Huobi has strengthened its anti-money laundering (AML) policy, the official announcement states.

Even though there are no details regarding the updated AML policy, the announcement states Huobi Korea has:

  • Strengthened deposit and withdrawal processes via enhanced monitoring of abnormal transactions;
  • Enhanced transparency for Huobi Korea's won-based fiat-to-crypto services;
  • Taken other measures to abide by the regulation and guidelines from the Korean Financial Services Commission.

Chief Communications Officer of Huobi Korea, David Oh, says the strengthened policy is a "natural move" for the exchange and is an integral part of its plans for growth in the Korean market.

Earlier, the U.S.-based arm of Huobi announced the launch of fiat-to-crypto feature.

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