New System for Bitcoin and Cryptocurrencies from South Korea: Will Monitor Transactions!

South Korea is preparing to implement the “Cryptocurrency Tracking System” to monitor money laundering and crime-related asset transfers.

According to the statement made by the authorities South Korean Ministry of Justiceannounced that it plans to introduce a crypto monitoring system to counter Bitcoin (BTC) and cryptocurrency laundering attempts and recover funds linked to criminal activities. Cryptocurrency Tracking System This new system, which will be named monitor transaction history, Get detailed information about transactions and controlling the source of funds during the transfer process will be used for.

of the system Commissioning in the first half of 2023 While planning, the ministry declared that it plans to develop an independent monitoring and analysis system in the second half of the year:

We will improve the forensic infrastructure in response to the complexity of the crime. We will build a criminal justice system that meets international standards in this area.

Earlier terra (LUNA) and Do Kwon South Korea is among the countries that closely follow the cryptocurrencies.

Cryptocurrency exchange in the scope of the price manipulation investigation in the cryptocurrency market carried out by South Korean prosecutors in the past days bithumbHis office was raided.

source site-10