South Korean Regulators to Conduct On-Site Inspection of Crypto Exchange GDAC on March 6

According to Korean media Etoday, the Financial Intelligence Unit (FIU) under the South Korean Financial Services Commission will conduct an on-site inspection of the South Korean encryption exchange GDAC on March 6, mainly targeting the establishment and operation of the anti-money laundering (AML) system. The head of the FIU Virtual Assets Inspection Department said, “We plan to select the inspection objects by comprehensively considering the number of users, transaction amount, and whether they are objects of interest. First, we will inspect the AML system of market operators that convert Korean won into virtual assets. This is because the process The risk of money laundering is higher.”