Latest development4 months ago
South Korea Eyes Stricter AML Rules for Small Crypto Transfers
The FIU advocates for expanding 'Travel Rule' coverage to small-scale digital asset transfers to mitigate offshore regulatory risks.
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South Korean police raided Bithumb's offices following allegations of hiring favoritism involving the son of lawmaker Kim Byung-gi. In a separate development, authorities detained 23 suspects linked to an $11.1 million money laundering operation. Consequently, the Financial Intelligence Unit is now advocating for stricter crypto transfer reporting rules to encompass smaller transactions.
The FIU advocates for expanding 'Travel Rule' coverage to small-scale digital asset transfers to mitigate offshore regulatory risks.
Read the full storyAuthorities detain 23 suspects for laundering 16.8 billion won in illicit funds using stablecoins to obscure phishing trails.
Authorities are investigating allegations of hiring favoritism involving lawmaker Kim Byung-gi’s son at the major South Korean crypto exchange.