South Korea Targets Crypto Money Laundering with New Customer Verification Measures

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The story "South Korea Targets Crypto Money Laundering with New Customer Verification Measures" was covered 1 days ago by Coinedition, a news publisher based in India.

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Coinedition 1d ago

South Korea Targets Crypto Money Laundering with New Customer Verification Measures - Coinedition

Quick Summary:

On May 20, South Korea’s Financial Services Commission (FSC) decided to tighten customer identification for non-profit corporations and virtual asset exchanges.

This measure is taken to lessen the chances of digital asset investors engaging in money laundering.

Banks and virtual exchanges will have to pay special attention to their users’ identification and oversee each transaction […]