South Korea Wants to Strengthen compliance control for cryptocurrency exchanges

The South Korean government will assist the regulator in strengthening compliance with legislative and regulatory acts. It will also strengthen measures to fight crime. These decisions were made after a meeting with crypto exchanges.

What does the meeting documents say

The financial intelligence agency and representatives of the leading cryptocurrency players in South Korea met. We are talking about Upbit, Bithamb, Coinone, Corbit and Gopax.

The document states that it is planned to strengthen the system of compliance with legislative and regulatory requirements. They also want to improve the predictability of its use.

Prior to that, the government approved the work of a unit that will fight crypto crimes. This decision was made due to the growth of illegal activity in the cryptocurrency market. There is also no legal protection for investors.

The Joint Center, which will investigate cryptocurrency crimes, will hire 30 specialists from the prosecutor's office. Experts from Finnadzor, tax and customs will also be here.

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