South Korea Begins Hunt for Crypto Criminals
South Korea regulator announces active fight against illegal crypto-attacks
Work to curb money laundering and other violations has already begun. State officials will hold a series of meetings this week to work out a unified strategy for different departments.
The Ministry of Justice, the police, the Financial Supervision Agency, representatives of the FSC and other agencies will work on the project. Their task will be not only to prevent violations, but also to catch the perpetrators and determine the punishment.
Recall that in South Korea since March, companies working with digital assets, must verify the identity of the user and on request provide information to the authorities. If this requirement is not met, huge fines will follow.
For this reason, many cryptocurrency exchanges have ceased to operate in the country. For example, OKEx no longer operates in the South Korean cryptocurrency market.
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