Buried Report Reveals Factors Behind South Korea’s ‘18 Crypto Crackdown

A newly unearthed report from South Korea’s financial watchdogs has revealed the rationale behind the country’s 2018 crypto crackdown that played a featured role in ‘Crypto Winter’. Digital Today dug up the “2017 Anti-Money Laundering Annual Report” which showed the Financial Intelligence Unit had identified more than half a million crypto transactions in South Korea in 2017 related to illegal activities. The 519,908 crypto transactions were flagged by authorities as “suspicious” and the upswing in money laundering fuelled the national government’s decision to carry out a partial crypto crackdown in 2018. The report took several years to be made public, despite being issued in November 2018. Read More...

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