The five major banks in South Korea are calling for the relaxation of restrictions on cooperation with the cryptocurrency industry, supporting a single exchange to connect with multiple banks

ChainCatcher news, according to The Block, the five major commercial banks in South Korea and several regional banks met with ruling party lawmakers this week, calling for the relaxation of restrictions on the number of partner banks for cryptocurrency exchanges. Current regulations require each exchange to cooperate with only one bank to comply with anti-money laundering regulations.

Woori Bank President Jung Jin-wan pointed out that this model limits user choices and affects system stability, suggesting that "one exchange should be able to connect with multiple banks." Meanwhile, as the institutional investment ban gradually eases, several exchanges in South Korea are preparing to welcome corporate clients.