Tag Archives: Korea Customs Service

$600 Mln Of Illegal Crypto Trades

The Korea Customs Service (KCS) published a press release on Jan. 31 on the status of illegal foreign currency exchanges using digital currency, which reportedly totals 637.5 bln won (about $600 mln).

The report gave examples of the largest cases when digital currency was illegally exchanged, citing 416.9 bln won ($391,886,000) illegally exchanged and 21.5 bln ($20,113,250) remitted due to insufficient funds between Australia and South Korea.

Reference: https://cointelegraph.com/news/south-korea-customs-service-reports-600-mln-of-illegal-crypto-trades