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South Korea will transfer approximately 40 unregistered virtual asset service providers to law enforcement agencies

MarsBitNews
Mars Finance News reports that, according to Newsis, the Korea Financial Intelligence Unit (FIU) has handed over approximately 40 unregistered virtual asset service providers to law enforcement agencies for processing. The report states that because these unregistered companies are not subject to South Korea's Virtual Asset User Protection Act and the Act on Reporting and Using Specific Financial Transaction Information, they face risks such as personal data leaks and hacking attacks, and may also be used for money laundering and hiding criminal funds.
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