![]() Political Affairs Committee of the National Assembly of South Korea. Currently, 18 digital asset bills are being debated in the Regulating the digital asset market in April 2023, which was proposed at theĮnd of 2022. The South Korean parliament is expected to pass a bill Parliament Expected to Pass New Digital Asset Bills 2023 Digital Banking Trends and the Future of Banking.Binance Seeks to Deregister Cypriot Subsidiary.Underscoring the lackadaisical attitude towards internal controls. Of these, the FIU found that one of the board members of a cryptocurrencyĮxchange was involved in transactions using their spouse's name, further Virtual asset deposits had been made, raising suspicion of wrongdoing. InĪnother instance, a customer repeatedly withdrew money promptly after large Notably, the FIU unearthed one case of a 95-year-old manĮngaged in late-night trading of over 30 different types of cryptocurrency,Ĭovertly splitting his money into smaller amounts to avoid detection. Irregularities include using borrowed-name bank accounts for transactionsĪnd grossly insufficient internal controls. The exchanges have been found negligent in their duty to monitor and report suspicious transactions diligently, resulting in theĭiscovery of several instances of irregular trading practices. Streami, for their blatant disregard of regulations pertaining to the reporting Intelligence Unit (FIU) has taken stringent measures against five cryptocurrency exchanges, namely Bithumb Korea, Coinone, Dunamu, Korbit, and In the latest development, the country's Financial South Korea has been actively engaged in the regulation of
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