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South Korea Financial Commission: Plans to strengthen reporting reviews and inspections of crypto companies

Kim Joo-hyun, the chairman of the Financial Services Commission in South Korea, stated that they plan to concentrate the screening and analysis capabilities of the Financial Intelligence Unit (FIU) on investigating crimes involving the use of virtual assets (such as drugs and gambling) and illegal financial fraud that directly affects people's lives. In the future, they will share suspected criminal cases with major law enforcement agencies such as prosecutors and police to conduct strategic in-depth analysis. They aim to eradicate crimes involving drugs, gambling, and harm to people's lives, and return the proceeds from virtual asset crimes as much as possible. Kim Joo-hyun also announced plans to strengthen the review and inspection of cryptocurrency companies, conduct thorough reviews of major shareholders, and strictly examine whether there are money laundering risks or user protection issues in various reporting processes for existing operators in the future.

South Korean Crypto
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