South Korea transfers about 40 unregistered virtual asset service providers to law enforcement agencies

According to Newsis, South Korea's Financial Intelligence Analysis Institute (FIU) has handed over about 40 unregistered virtual asset service providers to law enforcement agencies. The report pointed out that since these unregistered companies are not bound by South Korea's "Virtual Asset User Protection Law" and "Specific Financial Transaction Information Reporting and Use Law", they face risks such as personal data leakage and hacking attacks, and may also be used for money laundering and concealment of criminal funds.