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South Korea plans interagency crackdown on illegal crypto transactions South Korea’s top financial regulator established dedicated crypto investigation teams across the country last week. 5672 Total views News Several South Korean financial authorities are planning to join forces to combat illegal operations involving cryptocurrencies like Bitcoin (BTC). The interagency crackdown comes in response to growing concerns over speculative investments and potentially illegal activities amid the ongoing boom in crypto markets, Koo Yun-cheol, head of the Office for Government Policy Coordination, said Monday. “There is a need to pay special attention to the occurrence of illegal activities using virtual assets,” he stated at a vice ministers’ meeting on crypto, according to local news agency Yonhap. ....
Korea to strengthen monitoring of cryptocurrencies Posted : 2021-04-19 16:57 By Anna J. Park The government said Monday that it will crack down on any illegal transactions involving cryptocurrencies, such as money laundering and fraud, by strengthening its surveillance of digital assets from this month until June. The move comes as a cryptocurrency craze has fueled speculation here, with retail investors scrambling for virtual money, which has greatly outperformed stock markets over the past few months, amidst the ongoing COVID-19 pandemic. According to the Office for Government Policy Coordination (OPC), Monday, related ministries and agencies, including the finance ministry, the Financial Services Commission (FSC), police and the Fair Trade Commission (FTC) held a vice-ministerial meeting Friday as part of the pan-governmental surveillance initiative. ....