{"id":36253,"date":"2023-01-31T06:57:23","date_gmt":"2023-01-31T06:57:23","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2023\/01\/31\/south-korea-makes-crypto-crackdown-a-national-priority-the-register\/"},"modified":"2023-01-31T06:58:15","modified_gmt":"2023-01-31T06:58:15","slug":"south-korea-makes-crypto-crackdown-a-national-priority-the-register","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2023\/01\/31\/south-korea-makes-crypto-crackdown-a-national-priority-the-register\/","title":{"rendered":"South Korea makes crypto crackdown a national priority \u2022 The Register"},"content":{"rendered":"<p> <a href=\"https:\/\/go.fiverr.com\/visit\/?bta=1052423&nci=17043\" Target=\"_Top\"><img loading=\"lazy\" decoding=\"async\" border=\"0\" src=\"https:\/\/fiverr.ck-cdn.com\/tn\/serve\/?cid=40081059\" loading=\"lazy\"  width=\"601\" height=\"201\"><\/a>\n<\/p>\n<div id=\"body\">\n<p>South Korea&#8217;s Ministry of Justice will create a &#8220;Digital Foreign money Monitoring System&#8221; to crack down on cash laundering facilitated by cryptocurrencies, and rated the institution of the power amongst its priorities for the yr.<\/p>\n<p>The Ministry final week <a target=\"_blank\" href=\"https:\/\/viewer.moj.go.kr\/skin\/doc.html?rs=\/result\/bbs\/182&amp;fn=temp_1674704987069100\" rel=\"noopener\">announced<\/a> its plans for 2023 with motion in opposition to violent crime, sexual predators, and gang violence on the prime of its record. Subsequent got here immigration reform.<\/p>\n<p>In third place had been a raft of measures aimed toward addressing varied illegal actions resembling tackling organized crime, repatriating accused criminals who abscond earlier than going through native courts, enhancements to legal justice methods \u2013 and the aforementioned crypto-tracker.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"condor\" data-xsm=\",fluid,mpu,\" data-sm=\",fluid,mpu,\" data-md=\",fluid,mpu,\">\n        <noscript><br \/>\n            <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=2&amp;c=2Y9i70vfMfAlIQFE32a0wqwAAAAc&amp;t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0\" target=\"_blank\" rel=\"noopener\"><br \/>\n                <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=2&amp;c=2Y9i70vfMfAlIQFE32a0wqwAAAAc&amp;t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0\" loading=\"lazy\" alt=\"\"\/><br \/>\n            <\/a><br \/>\n        <\/noscript>\n    <\/div>\n<p>South Korea has beforehand moved to make sure that crypto buying and selling services obtainable on its shores purchase licenses, after which <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2022\/08\/18\/south_korea_cracks_down_on\/\" rel=\"noopener\">cracked down<\/a> on operators that did not observe its regulatory necessities. People who did join had been final yr requested to report on transactions so the federal government may detect cash laundering.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"falcon\" data-xmd=\",fluid,mpu,leaderboard,\" data-lg=\",fluid,mpu,leaderboard,\" data-xlg=\",fluid,billboard,superleaderboard,mpu,leaderboard,\" data-xxlg=\",fluid,billboard,superleaderboard,brandwidth,brandimpact,leaderboard,mpu,\">\n            <noscript><br \/>\n                <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44Y9i70vfMfAlIQFE32a0wqwAAAAc&amp;t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"><br \/>\n                    <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44Y9i70vfMfAlIQFE32a0wqwAAAAc&amp;t=ct%3Dns%26unitnum%3D426raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" loading=\"lazy\" alt=\"\"\/><br \/>\n                <\/a><br \/>\n            <\/noscript>\n        <\/div>\n<div class=\"adun_eagle_desktop_story_wrapper\">\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"mid\" data-raptor=\"eagle\" data-xxlg=\",mpu,dmpu,\">\n                <noscript><br \/>\n                    <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=3&amp;c=33Y9i70vfMfAlIQFE32a0wqwAAAAc&amp;t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"><br \/>\n                        <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/cybercrime&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=3&amp;c=33Y9i70vfMfAlIQFE32a0wqwAAAAc&amp;t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0\" loading=\"lazy\" alt=\"\"\/><br \/>\n                    <\/a><br \/>\n                <\/noscript>\n            <\/div>\n<\/p><\/div>\n<p>The nation can be house to Do Kwon, whose <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2022\/09\/15\/terraform_ceo_do_kwon_warrant_sk\/\" rel=\"noopener\">Terraform Labs<\/a> imploded final yr. That collapse set the snowball rolling for what&#8217;s develop into generally known as &#8220;crypto winter&#8221; as values of the tokens plunged and investor enthusiasm largely froze.<\/p>\n<p>South Korea is in fact subsequent door to North Korea, which is <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2023\/01\/25\/fbi_lazarus_harmony_crypto\/\" rel=\"noopener\">known<\/a> to make use of cryptocurrency to fund its weapons packages.<\/p>\n<div class=\"boxout\"><b>US bemoans crypto insecurity<\/b> The Biden Administration final week revealed a <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/nec\/briefing-room\/2023\/01\/27\/the-administrations-roadmap-to-mitigate-cryptocurrencies-risks\/\" rel=\"noopener\">Roadmap to Mitigate Cryptocurrencies&#8217; Risks<\/a> in recognition of the sector&#8217;s volatility having harmed traders.<\/p>\n<p>The roadmap known as for crypto corporations to look at the identical rules that different monetary companies gamers observe, and to tell shoppers of the dangers of their merchandise.<\/p>\n<p>The doc additionally famous &#8220;poor cyber safety throughout the business that enabled the Democratic Folks&#8217;s Republic of Korea to steal over a billion {dollars} to fund its aggressive missile program.&#8221;<\/p>\n<p>The administration has ordered its varied businesses to extend enforcement and subject further steerage to make sure compliance.<\/p>\n<p>One other goal of the roadmap is to curb cash laundering.<\/p>\n<\/div>\n<p>Few particulars had been provided concerning the Digital Foreign money Monitoring System past hopes it is going to begin to function in 2023. Nor was it defined if the System will hyperlink to a different of the Ministry&#8217;s priorities for 2023: improved forensic capabilities to detect and disrupt cyber crime.<\/p>\n<p>Techies on the Ministry look set for a busy yr. Different duties on the to-do record embrace constructing a digital litigation system, plus new visa issuance methods. \u00ae<\/p>\n<\/p><\/div>\n<iframe data-lazy=\"true\" data-src=\"https:\/\/www.fiverr.com\/gig_widgets?id=U2FsdGVkX18x7XQvttUTrv1oEqmGNGTgvvCUiUoJ\/AP4z\/UyMz8lXGOLpu15jIMxBbTR0gmD5uBoFvhC4KWeALQRp3h\/X\/AwcVD0K8Wj9H\/ZzYKzcCNHosB9oS4SCJJFWiN85P9ICAc4OgCoE\/wHKIY7CDkf2\/DQ1vqGvk4smVe5cRDEmrLPCWi4FC8p40VUhSmWQ5udCm0zoJtorgWv3vbDQw0kKYkwn39ozAnQXDe+YvWMxkLFWA+O3TFwkJvdkIK+\/AUSnRssPKt5WHY0FhNOxnSPcLslEL4G4\/RfP95ve99U+kRnDy3X+KtzdQLY+u935ghON\/o3UE4IMv9oN6JX9RnxzL\/LRcOgnHigxStSGPKsZYtnz8RWNVT\/rOLAibqiWJadC5MYHRbekF3eg6FOGrQGkXYbsn0+a5aovnlLCbLwIqY9fcS17UX8J235iQ6cdmHNbrPeS84CMm34RA==&affiliate_id=1052423&strip_google_tagmanager=true\" loading=\"lazy\" data-with-title=\"true\" class=\"fiverr_nga_frame\" frameborder=\"0\" height=\"350\" width=\"100%\" referrerpolicy=\"no-referrer-when-downgrade\" data-mode=\"random_gigs\" onload=\" var frame = this; var script = document.createElement('script'); script.addEventListener('load', function() { window.FW_SDK.register(frame); }); script.setAttribute('src', 'https:\/\/www.fiverr.com\/gig_widgets\/sdk'); document.body.appendChild(script); \" ><\/iframe>\n<br \/><a href=\"https:\/\/go.theregister.com\/feed\/www.theregister.com\/2023\/01\/31\/south_korea_crypto_money_laundering\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korea&#8217;s Ministry of Justice will create a &#8220;Digital Foreign money Monitoring System&#8221; to crack down on cash laundering facilitated by cryptocurrencies, and rated the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":36254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-36253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-universe"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>South Korea makes crypto crackdown a national priority \u2022 The Register - mailinvest.blog<\/title>\n<meta name=\"description\" content=\"Technology is forever changing, and there are always new pieces of technology to replace obsolete ones. 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