May 02, 2024
Finance
Korea to draw up measures against cryptocurrency money laundering
[THE INVESTOR] Korea will map out measures to prevent cryptocurrencies from being used as a tool for money laundering, the nation’s top financial regulator said on Nov. 28.
Kim Yong-beom, vice chairman of the Financial Services Commission, made the remarks at a forum organized by the Financial Intelligence Unit, a government agency in charge of preventing financial crimes.
Cryptocurrencies, such as bitcoin and ethereum, have rapidly gained popularity in recent years, but risks are also growing.
“We will draw up thorough countermeasures that prevent cryptocurrencies, like bitcoin, from being a new channel for money laundering,” Kim told the forum.
By Alex Lee and newswires (alexlee@heraldcorp.com)
