#韩国金融委
South Korean Financial Commission: Illegal operations identified at overseas cryptocurrency exchanges KCEX and QXALX, case referred to investigating authorities
According to a report by Golden Finance, the Financial Intelligence Unit (FIU) under the South Korean Financial Commission announced on the 7th that it has confirmed illegal operations by unreported overseas virtual asset operators KCEX and QXALX, and has referred the matter to the investigating authorities.
According to current laws, any virtual asset operator conducting business within South Korea must report to the FIU and implement relevant measures such as an Information Security Management System (ISMS). The two exchanges that were seized were operating illegally without prior reporting.
On the same day, the FIU reported their illegal activities to the investigating authorities and plans to take measures to block access to their websites and mobile applications within South Korea.