Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
P2P Loan
Grow your wealth in fiat investment
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
2026 World Cup
Rewards

South Korea Detects Cryptocurrency-Enabled Illegal Forex Trafficking Worth 415.4 Billion Won on June 10

GateNews
Enforcement ActionsRegulation & Policy
According to South Korea's Ministry of Economy and Finance, on June 10, the government held a meeting to address illegal foreign exchange transactions involving virtual assets. The National Intelligence Service recently detected a company that converted client funds into stablecoins (USDT) and transferred them overseas as fake trade payments, then imported and converted the digital assets back to Korean won. The Customs Service, conducting illegal forex inspections since January amid elevated exchange rates, identified 415.4 billion won in illegal transactions as of May. The government plans to intensify enforcement against unlawful early import payments, delayed export receipts, irregular trade settlements using digital assets, and asset-hiding schemes.
View Source
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Related News

06-10 07:05
South Korea's Central Bank Launches Audit of Major FX Banks on Wednesday Over Won Stability Concerns
06-10 01:51
South Korea's DAXA Refers 12 Illegal Crypto Operators to Police, Fee Disparity Up to 62x
06-10 00:41
South Korea's Finance Minister to Monitor Bond Yields, Weak Won, Stock Volatility
06-10 00:03
South Korea's Central Bank and FSS Launch Joint Forex Examination of Banks Today
06-09 07:17
South Korea Tightens Forex Position Monitoring to Weekly or Daily Checks Today
In-Depth Analysis

New York Proposes Stablecoin Framework Aligned With Federal GENIUS Act

Ethan Brooks06-10 07:23

Paradigm, Hyperliquid Urge Treasury to Narrow Stablecoin AML Rule for DeFi

Ethan Brooks06-10 07:12

DAXA Reports 12 Illegal Virtual Asset Operators to Police After Investigation

Ethan Brooks06-10 01:53
Comment
0/400
No comments