South Korea to tighten OTC crypto controls

From leaprate.com

South Korean financial regulators plan to bring over-the-counter (OTC) crypto deals under the microscope as concerns increase about the legality of these trades and their connotation to criminal activities. Recent data showed that unlawful foreign exchange transactions totalled about $4bn in 2022. A local report detailed how prominent executives attended a forum on the legal issues and potential criminal dealings associated with digital assets. Among these were Ki No-Seong, the deputy chief prosecutor, and Park Min-woo of the Financial Services Commission (FSC). This session highlighted money-laundering possibilities ... (full story)