scorecardresearchSouth Korea Probes $3.4 Billion of Crypto-linked FX Transactions

South Korea Probes $3.4 Billion of Crypto-linked FX Transactions

Updated: 27 Jul 2022, 02:10 PM IST
TL;DR.
South Korea’s Financial Supervisory Service is probing $3.4 billion worth of “abnormal” foreign-exchange transactions at two of the country’s largest commercial banks for possible links to illegal crypto-related activities.
FILE - An advertisement of Bitcoin, one of the cryptocurrencies, is displayed on a building in Hong Kong, on Nov. 18, 2021. A crypto mining company plans to redevelop a northeastern North Dakota anti-ballistic missile site abandoned in the 1970s into data center that may be used for the mining of bitcoin and other digital currencies, Gov. Doug Burgum announced Monday, July 25, 2022. (AP Photo/Kin Cheung, File)

FILE - An advertisement of Bitcoin, one of the cryptocurrencies, is displayed on a building in Hong Kong, on Nov. 18, 2021. A crypto mining company plans to redevelop a northeastern North Dakota anti-ballistic missile site abandoned in the 1970s into data center that may be used for the mining of bitcoin and other digital currencies, Gov. Doug Burgum announced Monday, July 25, 2022. (AP Photo/Kin Cheung, File)