Ethereum
Long

South Korea AML Regulation Ethereum AI/ML Signal

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Most major banks in South Korea have been hiring compliance officers to help aid with anti-money laundering due to the rise of cryptocurrency exchanges in the country. However, the New York Department of Financial Services (NYDFS) has notified the Financial Services Agency (FSC) of South Korea that it will investigate Korean banks with operations in New York that are suspected not of meeting compliance guidelines. The US regulators have already fined Nonghyup Bank USD$11mm. It is reported that the NYDFS will begin probes into six other Korean banks.

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