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South Korean regulators begin accepting reports on undeclared virtual asset operators

According to reports, the Korean digital asset exchange joint negotiation organization (DAXA) will cooperate with the Korean Financial Intelligence Agency (FIU) to accept reports on unreported virtual asset operators. Specifically, whistleblowers can report domestic and foreign virtual asset operators who have not submitted reports under the "Specific Financial Information Act" (Special Act) and have conducted unreported business with Koreans. DAXA will conduct a preliminary review of the report and transfer the results to FIU. FIU will reply to DAXA with the determination of whether the unreported encrypted business belongs to encrypted business and inform the company of the results.

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