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South Korean lawmakers seek expanded FIU powers over unregistered crypto firms
The proposed change would allow the FIU to investigate suspected violations and directly refer unregistered crypto operators to law enforcement.
South Korean lawmakers are advancing a proposal to expand the role of the Financial Intelligence Unit, or FIU, in policing unregistered crypto firms, according to Cointelegraph.
The plan would allow the FIU to investigate suspected violations tied to crypto activity and then refer unregistered crypto operators directly to law enforcement.
Supporters of the measure say it is aimed at strengthening oversight and enforcement against crypto companies operating without registration.
The proposal signals increased scrutiny of firms outside South Korea's registration framework as regulators push to tighten compliance and monitoring.