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On December 4th, it was reported that the Korean Association of Digital Asset Exchanges Joint Negotiation Organization (DAXA) will collaborate with the Financial Intelligence Unit (FIU) of South Korea to accept reports regarding undeclared virtual asset operators. The reports will target domestic and international virtual asset operators who have not submitted reports under Article 7 of the Special Act on Reporting Specific Financial Transactions and conducted unreported transactions with South Koreans. DAXA will conduct a preliminary review of the reports and forward the results to FIU. FIU will respond to DAXA with its determination of whether the undeclared crypto business falls under encrypted business, and communicate the outcome to the respective enterprise. |
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Post time 10-12-2023 06:52:27