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31 July 2021

South Korea: Crypto Exchanges Must Register in 2 Months, Warns FSC

South Korea: Crypto Exchanges Must Register in 2 Months, Warns FSC


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The South Korean government’s top financial regulator warned Thursday that foreign cryptocurrency exchanges that target Koreans would risk banned access to their websites as well as criminal investigations unless they register with the country’s anti-money laundering authority.

As per a new regulation aimed at preventing money laundering, all cryptocurrency exchanges utilizing Korean currency must register with the Korea Financial Intelligence Unit (KFIU) by September 24.

Foreign exchanges that do not register with the KFIU would be prohibited from conducting business with Koreans beginning Sept.

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