The South Korean government said that local authorities will work to strengthen the compliance efforts of crypto asset service providers. The Financial Intelligence Unit held a meeting on 27 July to “strengthen the compliance capacity of virtual asset service providers,” as per the press release shared by the Financial Services Commission (FSC). Five major crypto exchanges, namely Upbit, Bithum, Coinone, Cobit, and Gopax, attended the meeting. South Korea pursues a slew of measures to tackle crypto crime It was only a day earlier on 26 July that South Korea launched an interagency investigation unit to combat crypto-related crime.
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