South Korea began enforcing real-name verification measures for cryptocurrency traders on Tuesday as part of the government's measures to crack down on the country's speculative trading of digital currencies. 

In order to buy more virtual currencies, investors are now required to hold an account at the same banking institution used by their cryptocurrency exchange of choice.

These include six commercial banks: Kookmin Bank, Shinhan Bank, Nonghyup Bank, Industrial Bank of Korea, Kwangju Bank and KEB Hana Bank.

Those who already hold an account at the same bank as their trading platforms can simply sync their account information, but those who trade with different banks must create new accounts for verification purposes.

Without an account from the same bank, users can only withdraw their holdings on the cryptocurrency exchange.

Foreigners and underage traders cannot use the real-name verification system to authorize their transactions.