Cryoto Currency

Crypto whales are being monitored by S. Korean watchdog To ensure AML compliance. By Cointelegraph


S. Korean watchdog pursues crypto whales to ensure AML compliance

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.

FSC noted that money laundering risk is higher when there are more virtual assets and stablecoins. Monitoring crypto whales holding significant digital assets and stablecoins should be a top priority under the new anti money laundering guidelines. reported Local media