South Korea will launch a cryptocurrency monitoring system this year that will be used to track transaction history, extract information about transactions, and control the source of funds before and after remittance.
The crypto money market, which made people’s hair in 2022, excited people by making a promising entrance to 2023. Now, there has been a development that can affect the level of the stock markets. South Korea’s Ministry of Justice has announced a new cryptocurrency tracking system.
According to a report shared by one of South Korea’s local media outlets, “Virtual Currency Monitoring SystemThis system, called “, will be used in many areas:
Monitoring the transaction history, extracting information about the transactions and controlling the source of funds before and after the remittance
The system is planned to be commissioned in the first half of 2023, while the South Korean Ministry of Justice is in the second half of the year. developed an independent monitoring and analysis system. conveyed. The translation of the ministry’s statement is as follows:
“In response to the complexity of the crime, we will improve the forensic infrastructure. We will establish a criminal justice system that meets international standards.”
New Rules to End the Age of “The Stock Market Crashed, The Money Is Gone” for Banks Transacting with Cryptocurrency from the European Union
South Korean police previously struck a deal with five local crypto exchanges to cooperate in criminal investigations and ultimately create a safe trading environment for crypto investors. in the second half of the year such a system will be implemented.