South Korea Eyes Crypto Mixing Clampdown to Fight Money Laundering As the
crypto world buzzes with innovation, South Korea isn't shying away from shaking things up. Reports are in that the Financial Intelligence Unit (
FIU) is scratching its head over a
potential new rulebook for those sneaky crypto mixing platforms.
The mixers, known for their
hide-and-seek antics with transaction origins, caught the U.S. Treasury's hawkish eye. Turns out, Uncle Sam's FinCEN has a bone to pick, pushing for rules that'll strip the invisibility cloak off these platforms.
Over in October skies, the Office of Foreign Assets Control (OFAC) zapped Sinbad, tied to North Korea's notoriously crafty hackers, Lazarus. And before the leaves fell in August, Tornado Cash caught a cold chill when it got tagged in the anti-mixing crusade.
South Korea's brainstorming isn't happening in a bubble. They're tuning into the
American frequency, pondering a similar path. A FIU rep tipped the hat:
"
Last year, when the United States introduced mixer regulations, discussions began in Korea as well."
We're still at the "Let's talk" stage, with a big fat question mark on when rules might drop. It's a global game, says another FIU sage, where
teamwork makes the dream work.
