Virtual Asset Money Laundering in South Korea Hits Trillions Won; Only 10% of Fines Collected in 2026

According to Seoul Northern District Court, virtual asset money laundering flows in South Korea have reached several trillion won annually, with a court judgment from January 9, 2025, detailing a case where illegal foreign exchange operations totaling approximately 207.3 billion won were conducted through major cryptocurrency exchanges. The authorities have collected only 10% of the assessed penalties this year, highlighting enforcement challenges in the largely unregulated virtual asset market.
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