Executives from South Korea's five largest commercial banks (Kookmin Bank, Shinhan Bank, Asiana Bank, Woori Bank, and Nongxie Bank) met with ruling party lawmakers to demand relaxation of regulations restricting banks from working with cryptocurrency exchanges. Woori Bank President Chung Jin-wan specifically proposed that exchanges should be allowed to work with multiple banks instead of the current "one exchange for one bank" model to reduce systemic risk and expand consumer choice. At present, South Korean regulations require exchanges to cooperate with banks to provide fiat currency exchange cryptocurrency services, and users need to register a real-name bank account to use deposit and withdrawal services.