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<ul class="news-points"> 
 <li>South Korea’s customs agency recently highlighted crypto trading’s role in illegal forex transactions. </li> 
 <li>The Financial Services Commission (FSC) has also taken note of OTC crypto trading’s role in financial crimes. </li> 
 <li>Unlawful forex transactions via crypto assets reached a whopping $4 billion last year.</li> 
</ul> 
Korea Customs Service, the customs regulator of <a href="https://coinedition.com/tag/south-korea/" rel="noopener noreferrer nofollow">South Korea</a>, recently highlighted the role of crypto assets in financial crimes. The Customs Service was joined by the country’s Financial Services Commission (FSC), which pointed out over-the-counter (OTC) crypto trading’s role in illegal foreign exchange transactions. 
According to a recent <a href="https://cm.asiae.co.kr/article/2023091507274557430?aceRef=https%3A%2F%2Fcryptonews.com%2F" target="_blank" rel="noopener noreferrer nofollow">report</a> by Asia Economy, the value of illegal forex transactions via crypto assets reached an estimated $4 billion in 2022. The growing concern about unlawful transactions in financial crimes has prompted South Korean regulators to take aim at OTC crypto trading in the 2023 third Supreme Prosecutors’ Office Criminal Law Academy, which was held earlier this month.&nbsp; 
The meeting, which was held under the theme “Legal Challenges in the Discipline of Virtual Asset… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/south-korean-regulator-takes-aim-at-otc-crypto-trading/">South Korean Regulator Takes Aim At OTC Crypto Trading</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

South Korean Regulator Takes Aim At OTC Crypto Trading

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