South Korean regulator plans to look at stablecoins' role in money laundering: Report

2022/10/24 14:59

South Korea's Financial Services Commission (FSC) intends to look into the proportion of stablecoins being used on crypto exchanges to prevent money laundering, local news agency News1 reported Monday.
The FSC's "Risk Assessment Index Development, Improvement, and Application Methods Study for New Business Areas" report said that financial authorities consider stablecoins to be highly susceptible to money laundering.
The regulator has therefore established a position that it should look into the proportion of stablecoins being used on exchanges as a means of addressing the threat of money laundering, according to News1's report.

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