South Korea on Jan. 30 will ban the use of anonymous bank accounts in cryptocurrency trading, regulators said Tuesday in a widely telegraphed move designed to stop virtual coins from being used for money laundering and other crimes.

The measure comes on top of stepped up efforts by Seoul to temper South Koreans' obsession with cryptocurrencies.

Everyone from housewives to college students and office workers have rushed to trade in the market despite warnings from global policymakers about investing in an asset that lacks broad regulatory oversight.