{"id":73251,"date":"2023-01-30T13:36:54","date_gmt":"2023-01-30T11:36:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73251"},"modified":"2025-09-09T13:09:15","modified_gmt":"2025-09-09T10:09:15","slug":"south-korea-to-roll-out-cryptocurrency-tracking-system-in-2023","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/south-korea-to-roll-out-cryptocurrency-tracking-system-in-2023\/","title":{"rendered":"South Korea to roll out cryptocurrency-tracking system in 2023"},"content":{"rendered":"<p>The South Korean Ministry of Justice announced plans to roll out a cryptocurrency-tracking system in the first half of 2023 to tackle money laundering and recover proceeds obtained illegally.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The South Korean Ministry of Justice will introduce a &#8220;cryptocurrency tracking system&#8221; in the first half of this year to strengthen the tracking of money laundering and recovery of criminal proceeds using cryptocurrencies. <a href=\"https:\/\/t.co\/2CLkaLUrX6\">https:\/\/t.co\/2CLkaLUrX6<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1619569614979207169?ref_src=twsrc%5Etfw\">January 29, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The &#8216;virtual currency tracking system&#8217; will be used to monitor the transaction histories, associated information, and to verify the source of funds before and after transfers.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>In response to the growing ingenuity of criminals, we will improve the tools we use. We will build a criminal-justice system that meets international standards,<\/em> the ministry said.<\/p>\n<\/blockquote>\n<p>As part of the fight against money laundering<a href=\"https:\/\/u1f987.com\/en\/news\/south-korea-to-monitor-crypto-whale-activity\"> it will begin tracking<\/a> the transactions of users whose assets exceed 100 million KRW (~$70,000).<\/p>\n<p>One month earlier, authorities of the country<a href=\"https:\/\/u1f987.com\/en\/news\/south-korea-arrests-suspects-linked-to-kimchi-premium-cases\"> arrested<\/a> 16 people suspected of facilitating illicit foreign-exchange operations in the kimchi premium arbitrage.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Justice in South Korea announced plans to roll out a cryptocurrency-tracking system in the first half of 2023 to tackle money laundering and recover proceeds obtained illegally.<\/p>\n","protected":false},"author":1,"featured_media":73252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,974],"class_list":["post-73251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-south-korea"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=73251"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73251\/revisions"}],"predecessor-version":[{"id":73253,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73251\/revisions\/73253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73252"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}