South Korea's Financial Services Commission plans to look into the proportion of stablecoins being used on crypto exchanges in order to prevent money laundering, according to a local news report. By JamieCrawleyCD
The FSC's"Risk Assessment Index Development, Improvement, and Application Methods Study for New Business Areas" report said that financial authorities consider stablecoins to be highly susceptible to money laundering.
The regulator has therefore established a position that it should look into the proportion of stablecoins being used on exchanges as a means of addressing the threat of money laundering, according to News1's report. South Korean authorities have been proactive with regard to digital assets in recent years, with some 13 crypto-related bills