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South Korea’s Crypto regulations close in on Foreign exchanges as Sept. deadline approaches

Korean Watchdog, the Financial Services Commission (FSC) announced that any Foreign Cryptocurrency exchanges focused on Korean investors, must follow the Anti Money Laundering (AML) guidelines, and register with South Korea’s anti-money laundering body. The failure to do so shall result in a ban from operating in Korea and criminal charges, along with a hefty fine.

Korean Watchdog, the Financial Services Commission (FSC) announced that any Foreign Cryptocurrency exchanges focused on Korean investors, must follow the Anti Money Laundering (AML) guidelines, and register with South Korea’s anti-money laundering body. The failure to do so shall result in a ban from operating in Korea and criminal charges, along with a hefty fine.