South Korea will cooperate with Hong Kong to combat illegal foreign exchange transactions related to virtual assets

2023-02-16 14:52:03

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ChainCatcher news, according to Yonhap News Agency, to combat illegal foreign exchange transactions related to virtual assets, the Korea Customs Service has decided to actively exchange information related to foreign exchange crimes with the Hong Kong Customs authorities. The head of the Korea Customs Service, Yoon Tae-jik (phonetic), held bilateral talks with Hong Kong Customs Commissioner Ho Pei-shan yesterday in Hong Kong to discuss these plans.

The Korea Customs Service stated that over 60% of the funds suspected of illegal foreign exchange transactions under investigation are flowing to companies located in Hong Kong. The customs authorities of both sides have decided to promote the signing of a memorandum of understanding on cooperation to combat foreign exchange crimes to exchange information regarding illegal foreign exchange transactions. (Source link)

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Regulation South Korea Hong Kong

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