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South Korea's Customs Service Reports $ 600 Million of Illegal Cryptofrags

The Korean Customs Service (KCS) released a press release on January 31 on the status of illegal trade foreign currency. 637.5 billion won (about $ 600 million)

The report gives examples of the largest cases where digital currency was illegally traded, citing 416.9 billion won ($ 391,886,000) illegally traded and $ 21.5 billion ($ 20,113,250) remitted

Another example is Japan, where 53.7 billion won ($ 50,478,000) was illegally transferred from Japan to South Korea. South.

The KCS Report Ends:

"In the future, the KCS will investigate illegal currency transactions and money laundering charges against foreign exchange dealers or agents purchasing virtual currency […] .d continuous repressive measures such as [on] […] the representation of tariffs or the use of virtual currencies as goodwill for tobacco, drugs and other illicit products. "

South Korean crypto markets Last month, stricter regulations on encryption were introduced, including the prohibition of the opening and use of anonymous trade accounts, a law entered into force on January 30 and a false encryption ban report at the time of publication. nationally, CT reported earlier today that the South Korean minister of Finance reiterated that there would be no crypto ban in the country.