Crypto exchanges that don't register by Sept. 24 face being shut down in South Korea.
The blockchain research arm of Upbit's operator has launched its VerifyVASP in Singapore, a solution for combating crypto money laundering.
The development shows potential for many foreign exchanges to pull or limit services within the country ahead of tougher regulations.
The crypto exchange will discontinue Korean language support and remove won trading pairs.
Ripple is focusing on Asia, which the company has said is its fastest-growing market.
Exchanges have to set up partnerships with banks for real-name verification by Sept. 24.
The Korea Financial Intelligence Unit is pushing for exchanges to register in line with new anti-money laundering laws.
Woori Financial Group is joining forces with bitcoin exchange Coinplug to offer the service.
Fourteen were referred for prosecution, 15 were fined and four remain under investigation.
Lee Jung-hoon allegedly took the funds from BK Group owner Kim Byeong-gun as an upfront "contract fee" in acquisition negotiations.
Shinhan joins a number of existing council members including LG Electronics, Binance and Worldpay, among others.
The move caused prices for many altcoins to plummet by 50% or more, causing considerable losses among retail investors.
Officials called it the largest "cryptocurrency seizure for back taxes in Korean history."
There are no guarantees that even the "Big 4" Korean crypto exchanges will survive the imminent regulatory tidal wave.
Upbit, Huobi and Coinbit are among the cryptocurrency exchanges outlined in the report that have halted trading on certain coins.