South Korea’s FIU Refers 3 Illegal Crypto Operators for Investigation, Seeks Access Block on 2
Summary
- The FIU said it had referred three unregistered virtual-asset operators — Aegis Ventures, TetherMax and Supertrust — to investigative authorities.
- The FIU said it had requested domestic access blocking of the websites and mobile apps of TetherMax and Supertrust.
- The FIU said it will strengthen its crackdown on illegal virtual-asset operators and urged investors to check whether a provider is registered and watch for potential harm.
Forecast Trend Report by Period
South Korea’s Financial Intelligence Unit referred three illegal virtual-asset operators to investigative authorities.
On Oct. 30, the FIU said it had requested investigations into three unregistered crypto operators: Aegis Ventures, TetherMax and Supertrust. It also asked the Korea Communications Standards Commission to block domestic access to the websites and mobile apps of TetherMax and Supertrust.
Under South Korea’s Act on Reporting and Using Specified Financial Transaction Information, operating a virtual-asset business without reporting to financial authorities is subject to criminal penalties. The same rules apply to overseas operators if they target users in South Korea.
The FIU said it will strengthen its crackdown on illegal virtual-asset operators and swiftly request access blocks for newly identified firms and alternative sites.
It urged crypto users to check whether a provider has been properly registered before trading and to take extra care to avoid harm from using illegal operators.
Uk Jin
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