The Financial Intelligence Unit (FIU) has been proactively urging cryptocurrency exchanges to promptly report any transactions that may indicate potential money laundering or illicit “foreign exchange outflow.” The FIU’s efforts aim to enhance the detection and prevention of financial crimes within the crypto industry. By encouraging exchanges to be vigilant and report suspicious activities, the FIU hopes to safeguard the integrity of the financial system and combat illicit financial flows. This collaborative approach between the FIU and crypto exchanges is crucial in addressing the challenges posed by money laundering and unlawful foreign exchange activities in the digital asset space.
HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinSouth Korean Crypto Exchanges Report 50% Surge in Suspicious Transactions for 2023