S. Câinele de pază coreean urmărește cripto-balenele pentru a asigura conformitatea AML

South Korea’s financial watchdog, The Financial Service Commission (FSC), would monitor crypto whales with assets of over 100 million won ($70,000) to prevent money laundering efforts using digital assets.

The FSC noted that the greater the proportion of virtual assets and stablecoins, the higher the money laundering risk. Thus, special focus should be placed on monitoring crypto whales with significant digital asset and stablecoin holdings under the new anti-money laundering guidelines, raportate mass-media locală.

The report also drew attention to the use of stablecoins in money laundering and noted that stablecoins, especially those that are commonly used by the public, are more likely to be used as a means of crime. The report reads:

„În cazul unui activ virtual listat independent, este posibil ca acesta să nu îndeplinească criteriile de listare ale altor operatori de active virtuale și se poate evalua că riscul de spălare a banilor a operatorilor de active virtuale cu o proporție ridicată a activului virtual. activul este mare.”

Apart from monitoring crypto whales and their activities, the report also advocated for keeping a check on retail customers making high-value deposits. Those customers making high crypto transactions should be monitored for any significant change in holdings every quarter.

“Customers with large virtual asset holdings are at higher risk of money laundering,”

South Korea is known for its strict implementation of crypto-related policies, especially in the wake of the Terra-LUNA collapse. The financial regulators have doubled down on their efforts to ensure investor protection and bring crypto legislation by early 2024.

In August this year, the chair of FSC said the regulator plans to expedite its review of 13 bills pending in the country’s National Assembly related to digital assets. The aim of the review was to make institutional supplements that will take a balanced approach to blockchain development, investor protection and market stability.