Financial Watchdog Warns Two Banks Over Poor Crypto Transaction Management

Crypto New Media

A South Korean financial authority has warned two major domestic banks about their lack of management of cryptocurrency transactions and anti-money laundering (AML) regulation, local online media outlet The Daily reports Dec. 4. The Financial Supervisory Service (FSS) has reviewed Kookmin Bank and Nonghyup Bank and found “unreasonable elements related to virtual [currency] handling business.” […]

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