South Korea
Digital Asset
KOCSC, FIU Agree to Apply Criminal Code, Financial Transactions Act to Illegal Data from Unregistered Crypto Exchanges
- The KOCSC and the FIU have formed a joint understanding on the legal basis for handling illegal content tied to unregistered crypto exchanges.
- Sites confirmed via investigation to host 'investment fraud illegal information' will be handled under the Criminal Code.
- Unregistered operators providing services to, or substantively trading with, Korean users without FIU reporting will be subject to the Special Financial Transactions Act.