Seoul Targets High-Risk Exchanges, Tax Evaders in Sweeping AML Reform

[madtrader]

The FSC will block “high-risk” offshore exchanges, tighten VASP registration requirements, and ban individuals with drug- or tax-related crimes from becoming major shareholders. Authorities will also gain pre-emptive account-freezing powers as part of a sweeping AML overhaul set for implementation in 2026, following growing concerns over crypto-based tax evasion.

[Nahid Hossen]

Seoul tightening AML rules is a strong move toward safer crypto markets.