South Korea Bill Targets Unregistered Crypto Firms
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7 Articles
Cointelegraph
The New York LedgerSouth Korea Bill Targets Unregistered Crypto Firms
The bill follows the suspension of 23 of 25 investigations into unregistered crypto operators, most of which were based overseas.
Key Points of the News Legislative Impulse: Legislators presented a bill to expand the authority of the FIU and allow the agency to directly investigate unregistered crypto operators. Empty Application: The police suspended most investigations into FIU referrals, which highlights the limits in the current FIU authority on companies abroad. Regulatory objective: The amendment seeks to strengthen the authority of the FIU so that the agency can bet…
South Korea Pushes for Enhanced FIU Authority Over Unlicensed Crypto Exchanges
TLDR Korean legislators propose enhanced investigative authority for FIU regarding unlicensed cryptocurrency platforms New powers would enable FIU to conduct preliminary investigations before law enforcement referrals Proposed legislation addresses regulatory loopholes exploited by foreign crypto service providers Law enforcement discontinued 23 out of 25 cases involving unlicensed operators referred by FIU Additional cross-border cryptocur…
South Korea Bill Targets Unregistered Crypto Firms - Invest In Crypto News
Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries. All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy. Source link The post South Korea Bill Targets Unregistered Crypto Firms first appeared on Invest In Crypto News.The post South Korea B…
South Korean Lawmakers push to give FIU direct probe powers over crypto violations: Report - CoinCodeCap
Ten members of South Korea’s National Assembly, led by People Power Party lawmaker Eom Tae-young, submitted new legislation on Thursday aimed at reshaping how the country’s financial watchdog handles crypto crime, as per local media news reports. The bill would amend the Act on Reporting and Using Specified Financial Transaction Information, widely referred to as the Specific Financial Information Act, to significantly broaden what the Financial…
South Korea Moves To Empower FIU To Crack Down On Unregistered Crypto Firms
BitcoinWorld South Korea Moves to Empower FIU to Crack Down on Unregistered Crypto Firms South Korea is taking steps to tighten its grip on the cryptocurrency market. A new bill introduced in the National Assembly would grant the country’s Financial Intelligence Unit (FIU) explicit authority to investigate and penalize unregistered virtual asset service providers (VASPs). The proposal, reported by Digital Asset, was put forward on Aug. 20 by 10…
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