In response to the rise in crypto-related financial crimes, South Korea’s Financial Intelligence Unit (FIU) has announced plans to strengthen enforcement of anti-money laundering (AML) laws within the crypto space. On March 5, 2025, the FIU convened its AML Inspection Council to discuss new strategies for countering modern money laundering techniques — including the use of virtual accounts and simplified remittance services.
As part of this initiative, the FIU plans to establish a joint rapid response task force to combat crimes affecting public welfare, such as voice phishing, pyramid schemes, and financial offenses linked to gambling and narcotics. This group will collaborate with the Financial Supervisory Service and financial institutions to analyze suspicious transactions and detect emerging laundering schemes.
Additionally, the FIU is considering blocking access to unregistered overseas crypto exchanges — such as BitMEX, KuCoin, and others — that provide services to Korean investors without the required registration. This move follows the discovery that these platforms have been operating without proper notification to the FIU, which is classified as illegal activity under South Korean law.
