South Korea Mandates Reporting on International Stablecoin Transactions

South Korea’s government will set up a virtual asset transaction monitoring system to ensure sound transactions starting in the second half of 2025. During his business trip to the G20 Finance Ministers’ Meeting, Deputy Prime Minister and Finance Minister Choi Sang-mok highlighted rising incidents of illegal foreign exchange activities, including corporate tax evasion and money laundering tied to drugs and gambling, involving digital assets, Business Korea reported Friday. The government is responding to the rise in cross-border stablecoin transactions by requiring mandatory reporting. In 2024, South Korea ranks among the top three preferred locations.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android