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South Korea's Crypto Exchanges Fight Back Against New AML Rules
Description
South Koreas crypto exchanges, including top platforms like Upbit and Bithumb, are pushing back against new anti-money laundering rules they deem excessive. The proposed regulations could mandate over five million suspicious transaction reports annually, causing operational strain without effectively targeting illicit activities. Meanwhile, courts are overturning penalties, such as business suspensions and fines, for these exchanges. As South Korea navigates strict oversight and a thriving crypto market, the outcome of these conflicts remains uncertain.
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