Director of South Korea’s Financial Intelligence Division: If currency market operators want to enter the fiat currency market, they must have suffic

Lee Yun-soo, Director of Financial Intelligence and Analysis at the Financial Services Commission of Korea, stated at the "5th Blockchain Leaders' Club" event that although some people believe that the virtual asset industry has a bright future, there are also voices calling for the elimination of illegal activities using virtual assets and strengthening anti-money laundering efforts. We will support cryptocurrency operators to improve the construction and operation of anti-money laundering systems to a new level. If coin market operators want to enter the fiat market, they must have sufficient anti-money laundering capabilities.

We will closely review whether banks that issue real-name accounts have fully reviewed the anti-money laundering systems of virtual asset operators to ensure that these systems meet their goals. For transactions suspected of using disguised assets for crimes, suspicious transaction reports (STR) should also be prepared.

We will encourage virtual asset operators to establish stronger and more sound anti-money laundering systems. We plan to conduct enhanced inspections of operators with weak anti-money laundering systems and reflect the inspection results in updated reports.