Republic of Korea: Published Ministry of Justice 2023 Government Work Report including Virtual Currency Tracking System
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Description
Published Ministry of Justice 2023 Government Work Report including Virtual Currency Tracking System
On 26 January 2023, the Republic of Korea Ministry of Justice issued its 2023 Government Work Report, which states its aim to create a “Virtual Currency Tracking System” to strengthen its capability in detecting illegal money laundering activities through cryptocurrency. The Tracking System is intended to allow monitoring of virtual currency transaction details, and checking sources of funds before and after transfers.
Original sourceScope
Policy Area
Other operating conditions
Policy Instrument
Quality of Service requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central government