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

CoinFeed June 24 news, according to Newsis, the Korea Financial Intelligence Unit (FIU) has referred about 40 unregistered virtual asset service providers to law enforcement agencies. The report pointed out that since these unregistered businesses are not subject to South Korea's Virtual Asset User Protection Act and the Act on Reporting and Use of Specific Financial Transaction Information, they face risks such as personal data leakage and hacking attacks, and may also be used for money laundering and concealing criminal funds.