Financial Intelligence Unit (FIU)
Crypto.com Halts Its Launch in South Korea
Singapore-based crypto exchange Crypto.com has postponed its market entry into South Korea due to regulatory concerns. South Korea’s Financial Intelligence Unit (FIU), overseen by the Financial Services Commission (FSC), found Anti-Money Laundering (AML)-related problems in the data submitted by the exchange and launched an “emergency on-site inspection” to monitor the crypto.com’s activities. An official representing […]
EU Agrees to Toughen AML Rules for Crypto Sector
The European Council and Parliament have reached a provisional agreement broadening the reach of the European Union’s Anti-Money Laundering (AML) and Counter-Terrorist Financing law during landmark cases to combat fears relating to money laundering and counter-terrorism financing within the flourishing virtual currency market. This move closely follows the EU banking watchdog, which recently extended AML […]