South Korea Proposes Expanded FIU Powers to Investigate Unregistered Crypto Firms
South Korean lawmakers have introduced legislation to empower the Financial Intelligence Unit (FIU) to directly investigate unregistered cryptocurrency firms, reducing reliance on police referrals. This initiative aims to enhance regulatory oversight and ensure compliance within the crypto sector.
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South Korea proposes new FIU powers to investigate unregistered crypto firms
South Korean lawmakers have introduced legislation that would give the Financial Intelligence Unit direct authority to investigate suspected unregistered crypto businesses instead of relying mainly on police referrals. Yonhap reported that People Power Party lawmaker Eom Tae-young and nine other…
South Korean lawmakers seek expanded FIU powers over unregistered crypto firms
The proposal would let the FIU investigate suspected violations and refer unregistered crypto operators directly to law enforcement.