South Korean financial regulators are reportedly looking to introduce new regulations around the use of crypto mixers in the country following on the footsteps of the United States.
South Korean government is reportedly looking to follow in the footsteps of the United States and impose sanctions against using crypto mixing services.
According to a report published in the local daily, the South Korean financial regulator plans to introduce new regulations around virtual asset mixing services akin to the U.S. amid growing use of such services for illegal money laundering operations.
One of the FIU officials revealed that when the U.S. introduced sanctions against crypto mixers, the discussions started in Korea as well. The official further revealed that the discussion around new regulations is in the early phase, and since the U.S. is the only country to have introduced regulations around it, they are definitely a part of the discussion.
