Korea Blockchain Association submits submissions to the Korean regulatory authorities

According to News 1, on October 29, the Korea Blockchain Association announced that it has submitted a submission to the Financial Analysis Institute (FIU) of the Korea Financial Commission for amendments to the “Report on the Use and Reporting of Specific Financial Transactions”. It is reported that the submission includes experts' analysis of cryptocurrency anti-money laundering, security and legal fields, as well as the position of member exchanges. The president of the association said that the association will continue to work closely with the regulatory authorities to do everything possible to eliminate people's worries about money laundering through virtual asset transactions. The FIU is the regulator of money laundering in financial transactions in Korea and is the subject of an evaluation of the implementation of the virtual asset recommendation standard proposed by the International Anti-Money Laundering Agency (FATF).