SouthKorean regulators studying crypto whales, here's why
The Financial Service Commission , South Korea’s leading financial watchdog, believes that stablecoins and cryptocurrencies may make it easier to launder money.
In 2017, the South Korean government imposed restrictions on the use of anonymous trading accounts and prohibited local financial institutions from hosting Bitcoin futures trades due to concerns that a ban would have been implemented. Stablecoins will be the major subject of monitoring. According to the watchdog, such assets are becoming more and more common in general society and “are more likely to be utilized as a means of crime.”
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