South Korea's Crypto Illicit Activities: An Essential Collaboration to Protect Digital Assets

South Korea's Initiative Against Crypto Illicit Flows: The Korea Customs Service has partnered with local cryptocurrency exchanges to combat illicit foreign exchange transactions involving digital assets, addressing a significant rise in such activities linked to cryptocurrencies over the past five years.

Impact and Future Challenges: This collaboration aims to enhance security, build trust in the crypto market, and clarify regulatory requirements, while also facing challenges such as evolving criminal tactics, technological complexities, and the need for international cooperation.