South Korean Regulator’s Accounting Probes May Target Crypto Exchanges
Posted: Thu Oct 11, 2018 2:52 pm
South Korea’s top financial regulator is widening its probe on accounting practices at big companies, which may include the nation’s big cryptocurrency exchanges. This announcement follows the prosecutors launching an investigation about the use of corporate accounts by crypto venues which the regulators say can lead to money laundering.
The exact details of the latest investigation or the degree to which cryptocurrency operators engaged are not available. But the chief of the Financial Supervisory Service (FSS) was quoted by Yonhap News as saying he “personally feels a need to promptly push to regulate cryptocurrency tradings.”
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