South Korea to follow US example on crypto mixers with potential sanctions: Report
South Korean financial regulators are reportedly looking to introduce new regulations around the use of crypto mixers in the country, following in the footsteps of the United States.
The South Korean government is reportedly considering imposing sanctions against the use of crypto mixing services.
According to a report by a local publication, the South Korean financial regulator plans to introduce new regulations around digital asset mixing services akin to the United States amid the growing use of mixers for illegal money laundering operations.
One South Korean Ministry of Interior and Safety official revealed that when the U.S. introduced sanctions against crypto mixers, the discussions also started in Korea. The official further revealed that the discussion around new regulations is in the early phase and that the U.S. is part of the discussion.
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