Tag: Korea crypto

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IMF Chief Calls for Clear Crypto Regulation — Warns High Crypto Adoption Could Undermine Financial Stability

December 16, 2023

The head of the International Monetary Fund (IMF) has called for clear crypto regulations worldwide, cautioning that high crypto adoption could undermine macro-financial stability. “Our goal is to make a more efficient, interoperable, and accessible financial system by providing rules to avoid the risks of crypto, and infrastructure by leveraging some of its technologies,” she…
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South Korean Authorities Take Aim at Unregulated Crypto OTC Desks Amid Money Laundering Concerns

September 19, 2023

South Korean prosecutors and regulators are directing their attention toward reported issues concerning unregulated cryptocurrency-based over-the-counter (OTC) trading and deposit enterprises. During the third annual prosecutors’ conference, officials proposed the necessity for enhanced regulation in the crypto sphere, citing concerns that these enterprises facilitate money laundering and fraud. The Korea Customs Service estimates that unlawful…
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