South Korea's Financial Commission plans to monitor users who hold more than 500,000 yuan in virtual assets

According to News1 citing related reports, the Korean Financial Commission believes that tokens and stablecoins listed on a single exchange are likely to be laundered. Therefore, in order to prevent money laundering, the proportion of tokens and stablecoins listed on a single exchange of virtual asset exchanges should be investigated. The greater the proportion, the higher the risk of money laundering. It is necessary for financial regulatory authorities to evaluate the tradability of tokens, especially the stablecoins commonly used by the public are more likely to be used as criminal means. In addition, the Korean Financial Services Commission announced the number of virtual asset projects listed on a single exchange circulating in the Korean virtual asset market. Among them, the number of virtual asset projects listed separately in the second half of 2021 is 403, and the number of virtual asset projects in the first half of 2022 is 391. At the same time, it believes that it is necessary to monitor customers who have deposited high amounts of virtual assets. Specifically, the number of virtual assets held by each customer can be multiplied by the closing price of the virtual asset at the end of the last quarter, and it can be calculated on the basis of "100 million to 300 million Won" (approximately 500,000 to 1.5 million yuan), "300 million to 500 million won", and "more than 500 million won" to monitor the scale and trend of virtual assets held by customers.