2023-01-30 07:08:02

South Korea to Introduce Virtual Currency Tracking System to Monitor Crypto

The Ministry of Justice in South Korea has revealed intentions to implement a crypto-tracking system to combat money laundering schemes and reclaim cash associated with criminal activity. According to a local media outlet, the Virtual Currency Tracking System would be used to keep track of transaction history, extract data about transactions, and verify the source of cash before and after the remittance. Virtual Currency Tracking System to Track Money Laundering The Ministry of Justice’s position is that it has decided to introduce a tracking system to strengthen the tracking of money laundering using virtual currency and the recovery of criminal The post South Korea to Introduce Virtual Currency Tracking System to Monitor Crypto appeared first on Cryptoknowmics-Crypto News and Media Platform .

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.