logo
    • Buy Crypto
    • Markets
    • Futures
    • Spot
    • Earn
    • Affiliates & AI
    • More
    1. WEEX
    2. Crypto News
    3. Proposal to Grant FIU Authority to Regulate Unreported Virtual Asset Businesses

    Proposal to Grant FIU Authority to Regulate Unreported Virtual Asset Businesses

    By: www.digitalasset.works|2026/08/21 03:10:00
    0
    Share
    copy
    Prefer us on GooglePrefer us on Google
    COINCOIN
    CoinCoin
    COINCOIN
    ANYONEANYONE
    RelevantRelevant
     

    A proposal to amend the Specific Financial Information Act to grant the Financial Intelligence Unit (FIU) the authority to regulate unreported virtual asset businesses has been introduced. On the 20th, ten members of the National Assembly, including Rep. Eom Tae-young of the People Power Party, submitted this amendment. The amendment specifies that anyone can report violations of the Specific Financial Information Act to the head of the FIU, and that the FIU head can take necessary measures such as investigation and analysis if a report is made or if there are recognized suspicions of violations. Additionally, it includes the authority to file complaints with the relevant investigative agencies or provide necessary information. Current laws impose reporting obligations and anti-money laundering duties on virtual asset businesses, but there are criticisms that the FIU cannot directly regulate unreported businesses such as 'coin private exchange offices,' limiting effective responses. Unreported businesses are at risk of being exploited for crimes such as money laundering, currency exchange fraud, and illegal overseas remittances, but there are also concerns that the structure relies on cooperation between relevant agencies or requests for investigations, making rapid responses difficult.

    -- Price

    --
    --
    --

    This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.

    You may also like

    Algorand's Euro Stablecoin Market Cap Increases by $840,800

    Algorand's Euro Stablecoin Market Cap Increases by $840,800

    The market capitalization of Algorand's (ALGO) Euro stablecoin increased by $840,800 (approximately 1.2 billion KRW) over the past week. This follows the implementation of the European Union's virtual asset regulatory framework, MiCA.
    Compound Proposes $12 Million USDC Allocation to Non-Custodial Vault

    Compound Proposes $12 Million USDC Allocation to Non-Custodial Vault

    The Compound Finance Management Committee has proposed allocating up to $12 million (approximately 1.67 billion KRW) worth of USD Coin (USDC) to a non-custodial vault based on Ethereum (ETH).
    Circle to Launch Public Mainnet of Arc on September 16, 2026

    Circle to Launch Public Mainnet of Arc on September 16, 2026

    EU Digital Identity Wallet Mandated for Member States by End of 2026

    EU Digital Identity Wallet Mandated for Member States by End of 2026

    Discussions on the use of identity in blockchain are shifting from token issuance to cross-border credential verification and compliance automation. The key lies not in creating new identities but in ensuring interoperability.
    KiiChain Surpasses $600 Million in Cumulative Trading Volume and Expands Forex Partnerships

    KiiChain Surpasses $600 Million in Cumulative Trading Volume and Expands Forex Partnerships

    KiiChain has surpassed a cumulative trading volume of $600 million (approximately 837.6 billion KRW) since the launch of its mainnet and is expanding its on-chain foreign exchange infrastructure and corporate payment partnerships. Approximately 90% of the total trading volume comes from ...
    Ulcer Index: How to Assess the Risk of a Pullback in the Crypto Market

    Ulcer Index: How to Assess the Risk of a Pullback in the Crypto Market

    The Ulcer Index helps traders view cryptocurrency not only through returns but also through the risk of deep drawdowns: the indicator shows how much and how long the price of an asset falls from previous highs. Investments are always associated with the probability of losses. This is especially noti...
    Bitcoin-Backed Lending at Silicon Valley Bank: The Market Enters an Institutional Phase

    Bitcoin-Backed Lending at Silicon Valley Bank: The Market Enters an Institutional Phase

    Bitcoin-backed lending at Silicon Valley Bank describes how the market has matured significantly after the 2022 crypto loan crisis: more over-collateralization, stricter underwriting, greater transparency, and increased participation from major financial players.
    Suriname Approves Law to Supervise Virtual Asset Providers

    Suriname Approves Law to Supervise Virtual Asset Providers

    The Next Billion Customers Will Be AI: Stablecoins Disrupting the Market

    The Next Billion Customers Will Be AI: Stablecoins Disrupting the Market

    US SEC Prepares First Major Rule for Cryptocurrencies

    US SEC Prepares First Major Rule for Cryptocurrencies

    A new rule for cryptocurrencies marks the first significant step by the U.S. Securities and Exchange Commission (SEC) towards the permanent regulation of digital assets: the regulator has proposed a framework that allows crypto projects to raise funds and launch tokens without automatically triggeri...
    Voting for NU7 in Zcash Begins: Aiming for 3 Times Faster Blocks and Gradual Emission

    Voting for NU7 in Zcash Begins: Aiming for 3 Times Faster Blocks and Gradual Emission

    Bitcoin Sales Strategy: Michael Saylor's Company Restructures Financing Model

    Bitcoin Sales Strategy: Michael Saylor's Company Restructures Financing Model

    The Bitcoin sales strategy brings to the forefront a new phase in the policy of Michael Saylor's company: Strategy Inc. is expanding its range of financial instruments to maintain liquidity, buy back its own shares, and, if necessary, use Bitcoin as a source of cash. According to Bloomberg, the comp...
    Tariffs Between the US and Canada: What the Trade Escalation Means for Investors

    Tariffs Between the US and Canada: What the Trade Escalation Means for Investors

    Legal Status of Cryptocurrencies: What the New Law Will Change in Azerbaijan

    Legal Status of Cryptocurrencies: What the New Law Will Change in Azerbaijan

    The legal status of cryptocurrencies in Azerbaijan may be established by the end of the year: the Central Bank has completed the preparation of a draft law on digital assets and submitted it for approval to government structures. The new document is expected to remove the market from a long-standing...
    Cryptocurrency Transfers Abroad: New Rules for Citizens and Businesses Starting September 1, 2026

    Cryptocurrency Transfers Abroad: New Rules for Citizens and Businesses Starting September 1, 2026

    Starting September 1, 2026, cryptocurrency transfers abroad will be available to Russian citizens in two main formats: to their own wallets outside the country and to non-residents for the payment of goods or services. The Bank of Russia emphasizes that alongside this new opportunity, the requiremen...
    CME vs Kalshi: The Prediction Market War Turns into Public Insult at CFTC Meeting

    CME vs Kalshi: The Prediction Market War Turns into Public Insult at CFTC Meeting

    The CME chief accuses prediction markets of being manipulable. The CFTC and Kalshi respond sharply during an official hearing.
    Residents of Bryansk Explained How to Recognize Cryptocurrency Mining Neighbors

    Residents of Bryansk Explained How to Recognize Cryptocurrency Mining Neighbors

    Cryptocurrency mining in a regular apartment, private garage, or utility room usually exhibits several noticeable signs: Constant humming. Overheating air. Power grid failures. Noise at night. Regular flickering of lights. Residents of Bryansk region were informed about what to pay attention to if a...
    90% of Executives See No AI Benefits, Layoff Logic Spreads

    90% of Executives See No AI Benefits, Layoff Logic Spreads

    Investment in artificial intelligence (AI) is increasing among U.S. companies, but the gap between productivity improvement and employment adjustments is widening. Many executives still believe that AI has not yet boosted their company's productivity.
    FTC Urged to Investigate AI Companies' Book Destruction Practices

    FTC Urged to Investigate AI Companies' Book Destruction Practices

    Is Bessent acting alone in the Treasuries? What the buyback means

    Is Bessent acting alone in the Treasuries? What the buyback means

    AI Has Made Bitcoin Software a Target—This Group Is Fighting Back

    AI Has Made Bitcoin Software a Target—This Group Is Fighting Back

    How a former crypto user’s archived Binance data ended up in a foreign terrorism prosecution

    How a former crypto user’s archived Binance data ended up in a foreign terrorism prosecution

    Binance left Russia in 2023, but customer records later appeared in a terrorism-financing case, exposing the limits of crypto privacy.
    Cryptocurrency in Banking Apps: What Will Change for Russians

    Cryptocurrency in Banking Apps: What Will Change for Russians

    Cryptocurrency in banking apps may become a familiar way for Russian retail clients to purchase digital assets: banks are preparing to provide access to cryptocurrency and digital financial assets without resorting to exchanges. Market participants hardly dispute the direction of movement: banking s...
    Price Forecast for Chainlink (LINK) for 2023–2031

    Price Forecast for Chainlink (LINK) for 2023–2031

    The price forecast for Chainlink remains one of the notable topics for investors monitoring the oracle market, smart contracts, and the dynamics of the LINK token against the US dollar. Chainlink is a decentralized open-source cryptocurrency: its technology helps smart contracts access data from ext...
    Robinhood Chain Generates $4 Million in Revenue, Experimenting with Profit Models

    Robinhood Chain Generates $4 Million in Revenue, Experimenting with Profit Models

    Layer 2 and new chains are shifting from merely selling blockchain space to a revenue structure that directly embraces application fees and payment flows.
    Fidelity Warns: The Prosperity of AI Agents May Not Equate to a Boom for Public Blockchains

    Fidelity Warns: The Prosperity of AI Agents May Not Equate to a Boom for Public Blockchains

    Georgia, Cryptocurrency and Sanctions: How a British Schoolboy Uncovered Russia's Shadow Network

    Georgia, Cryptocurrency and Sanctions: How a British Schoolboy Uncovered Russia's Shadow Network

    Georgia has found itself at the center of a major cryptocurrency scandal: European authorities suspect registered platforms in the country of assisting Moscow in circumventing restrictions, and the investigation by 17-year-old Alexander Browder has unexpectedly become part of a larger story about sa...
    Russians Ask What Is Happening with Ethereum: Interest in ETH Surges

    Russians Ask What Is Happening with Ethereum: Interest in ETH Surges

    Search queries about what is happening with Ethereum have noticeably increased in Russia, and a sharp rise in interest in ETH futures has been recorded on the Moscow Exchange's derivatives market. Market participants explain this in various ways: some talk about a return of attention to major crypto...
    SEC proposes a path for crypto projects to raise $75 million and later end the token’s securities contract

    SEC proposes a path for crypto projects to raise $75 million and later end the token’s securities contract

    The SEC’s Regulation Crypto Assets proposal could let projects raise up to $75M and later end the investment contract tied to their tokens.
    From Buffett to Dan Bin: Top Seven Funds' 13F Reports Reveal New Round of AI Investment Rotation

    From Buffett to Dan Bin: Top Seven Funds' 13F Reports Reveal New Round of AI Investment Rotation

    Algorand's Euro Stablecoin Market Cap Increases by $840,800

    The market capitalization of Algorand's (ALGO) Euro stablecoin increased by $840,800 (approximately 1.2 billion KRW) over the past week. This follows the implementation of the European Union's virtual asset regulatory framework, MiCA.

    Compound Proposes $12 Million USDC Allocation to Non-Custodial Vault

    The Compound Finance Management Committee has proposed allocating up to $12 million (approximately 1.67 billion KRW) worth of USD Coin (USDC) to a non-custodial vault based on Ethereum (ETH).

    Circle to Launch Public Mainnet of Arc on September 16, 2026

    EU Digital Identity Wallet Mandated for Member States by End of 2026

    Discussions on the use of identity in blockchain are shifting from token issuance to cross-border credential verification and compliance automation. The key lies not in creating new identities but in ensuring interoperability.

    KiiChain Surpasses $600 Million in Cumulative Trading Volume and Expands Forex Partnerships

    KiiChain has surpassed a cumulative trading volume of $600 million (approximately 837.6 billion KRW) since the launch of its mainnet and is expanding its on-chain foreign exchange infrastructure and corporate payment partnerships. Approximately 90% of the total trading volume comes from ...

    Ulcer Index: How to Assess the Risk of a Pullback in the Crypto Market

    The Ulcer Index helps traders view cryptocurrency not only through returns but also through the risk of deep drawdowns: the indicator shows how much and how long the price of an asset falls from previous highs. Investments are always associated with the probability of losses. This is especially noti...
    ...
    One account, every market
    Trade stocks, gold, oil and more!
    One account, every marketTrade now

    Contents

    COIN

    Latest articles

    08/21/2026

    EU Digital Identity Wallet Mandated for Member States by End of 2026

    Discussions on the use of identity in blockchain are shifting from token issuance to cross-border credential verification and compliance automation. The key lies not in creating new identities but in ensuring interoperability.
    CROSSCROSS
    00.00%--
    SNTSNT
    00.00%--
    08/22/2026

    Ulcer Index: How to Assess the Risk of a Pullback in the Crypto Market

    The Ulcer Index helps traders view cryptocurrency not only through returns but also through the risk of deep drawdowns: the indicator shows how much and how long the price of an asset falls from previous highs. Investments are always associated with the probability of losses. This is especially noti...
    08/22/2026

    Bitcoin-Backed Lending at Silicon Valley Bank: The Market Enters an Institutional Phase

    Bitcoin-backed lending at Silicon Valley Bank describes how the market has matured significantly after the 2022 crypto loan crisis: more over-collateralization, stricter underwriting, greater transparency, and increased participation from major financial players.
    08/22/2026

    Suriname Approves Law to Supervise Virtual Asset Providers

    08/22/2026

    The Next Billion Customers Will Be AI: Stablecoins Disrupting the Market

    More

    Latest coin listings on WEEX

    logoCommunity
    iconiconiconiconiconiconicon
    Customer Support:@weikecs
    Business Cooperation:@weikecs
    Quant Trading & MM:bd@weex.com
    VIP Program:support@weex.com
    • About Us
    • Announcement Center
    • Media Kit
    • WEEX Community
    • WXT Zone
    • Announcement
    • Legal Statement
    • Risk Disclosure
    • Terms and Policies
    • Privacy Policy
    • Whistleblower Notice
    • AML/CTF Policy
    • Law Enforcement
    • User Guide
    • Product Launches
    • Crypto News
    • Product Launches
    • Crypto Wiki
    • Learn
    • Q&A
    • Spot
    • Futures
    • Glossary
    • VIP Program
    • Download
    • Affiliate
    • Protection Fund
    • Proof of Reserves
    • Sitemap
    • ETFs
    • Crypto Prices
    • Price Predictions
    • WXT Price
    • BTC Price
    • ETH Price
    • DOGE Price
    • How to Buy Crypto
    • How to Buy WXT
    • How to Buy BTC
    • How to Buy ETH
    • How to Buy DOGE
    • Help Center
    • Fee Schedule
    • Trading Rules
    • WEEX Academy
    • Contact Verifier
    • Submit Feedback
    • About Us
    • Announcement Center
    • Media Kit
    • WEEX Community
    • WXT Zone
    • Announcement
    • Help Center
    • Fee Schedule
    • Trading Rules
    • WEEX Academy
    • Contact Verifier
    • Submit Feedback
    • Customer Support Bot
    • VIP Services
    • Legal Statement
    • Risk Disclosure
    • Terms and Policies
    • Privacy Policy
    • Whistleblower Notice
    • AML/CTF Policy
    • Law Enforcement
    • Proof of Reserves
    • Invite Friends
    • OTC
    • Download
    • Affiliate
    • VIP Program
    • API
    • Broker
    • Listing Application
    • Affiliate T&C
    • Sitemap
    • Futures
    • Spot
    • Copy Trade
    • Markets
    • WEEX Store
    • User Guide
    • Product Launches
    • Crypto News
    • Product Launches
    • Crypto Wiki
    • Learn
    • Q&A
    • Spot
    • Futures
    • Glossary
    • VIP Program
    • Download
    • Affiliate
    • Protection Fund
    • Proof of Reserves
    • Sitemap
    • ETFs
    • Crypto Prices
    • Price Predictions
    • WXT Price
    • BTC Price
    • ETH Price
    • DOGE Price
    • How to Buy Crypto
    • How to Buy WXT
    • How to Buy BTC
    • How to Buy ETH
    • How to Buy DOGE
    • About Us
    • Announcement Center
    • Media Kit
    • WEEX Community
    • WXT Zone
    • Announcement
    • Help Center
    • Fee Schedule
    • Trading Rules
    • WEEX Academy
    • Contact Verifier
    • Submit Feedback
    • Legal Statement
    • Risk Disclosure
    • Terms and Policies
    • Privacy Policy
    • Whistleblower Notice
    • AML/CTF Policy
    • Law Enforcement
    • Customer Support Bot
    • VIP Services
    • Futures
    • Spot
    • Copy Trade
    • Markets
    • WEEX Store
    • Proof of Reserves
    • Invite Friends
    • OTC
    • Download
    • Affiliate
    • VIP Program
    • API
    • Broker
    • Listing Application
    • Affiliate T&C
    • Sitemap
    • User Guide
    • Product Launches
    • Crypto News
    • Product Launches
    • Crypto Wiki
    • Learn
    • Q&A
    • Spot
    • Futures
    • Glossary
    • VIP Program
    • Download
    • Affiliate
    • Protection Fund
    • Proof of Reserves
    • Sitemap
    • ETFs
    • Crypto Prices
    • Price Predictions
    • WXT Price
    • BTC Price
    • ETH Price
    • DOGE Price
    • How to Buy Crypto
    • How to Buy WXT
    • How to Buy BTC
    • How to Buy ETH
    • How to Buy DOGE

    Where new wealth is made

    Download app

    Sign Up
    h5 logo
    Download