{"id":545053,"date":"2023-01-29T10:37:29","date_gmt":"2023-01-29T07:37:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/south-korea-to-deploy-cryptocurrency-tracking-system-in-2023\/"},"modified":"2023-01-29T10:37:29","modified_gmt":"2023-01-29T07:37:29","slug":"south-korea-to-deploy-cryptocurrency-tracking-system-in-2023","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/south-korea-to-deploy-cryptocurrency-tracking-system-in-2023\/","title":{"rendered":"# South Korea to deploy cryptocurrency tracking system in 2023"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27826240ba4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27826240ba4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/south-korea-to-deploy-cryptocurrency-tracking-system-in-2023\/#%E2%80%9D_South_Korea_to_deploy_cryptocurrency_tracking_system_in_2023_%E2%80%9C\" >&#8221; South Korea to deploy cryptocurrency tracking system in 2023 &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_South_Korea_to_deploy_cryptocurrency_tracking_system_in_2023_%E2%80%9C\"><\/span>&#8221; South Korea to deploy cryptocurrency tracking system in 2023 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvYmNiMTkxMWQtMDYwMC00MDgzLWEyYzctNDUyNjk0YjM4OGIyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>The Ministry of Justice in South Korea announced plans to introduce a crypto tracking system to counter money laundering initiatives and recover funds linked to criminal activities.<\/p>\n<p>The \u2018Virtual Currency Tracking System\u2019 will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.khgames.co.kr\/news\/articleView.html?idxno=208502\">according<\/a> to local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> outlet kh<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>s.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The South Korean Ministry of Justice will introduce a &#8220;cryptocurrency tracking system&#8221; in the first half of this year to strengthen the tracking of money laundering and recovery of criminal proceeds using cryptocurrencies. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/2CLkaLUrX6\">https:\/\/t.co\/2CLkaLUrX6<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1619569614979207169?ref_src=twsrc%5Etfw\">January 29, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>While the system is slated to be deployed in the first half of 2023, the South Korean ministry shared plans to develop an independent tracking and analysis system in the second half of the year. A rough translation of the ministry\u2019s statement reads:<\/p>\n<blockquote><p>\u201cIn response to the sophistication of crime, we will improve the forensic infrastructure (infrastructure). We will build a criminal justice system that meets international standards (global standards).\u201d<\/p><\/blockquote>\n<p>The South Korean police previously established an agreement with five local crypto exchanges to cooperate in criminal investigations \u2014 to create a safe trading environment for crypto investors ultimately. <\/p>\n<p><strong><em>Related: South Korean prosecutors request arrest warrant for Bithumb owner: Report<\/em><\/strong><\/p>\n<p>The South Korean Supreme Court ruled that crypto exchange Bithumb must pay damages to investors over a 1.5-hour service outage on Nov. 12, 2017.<\/p>\n<p>The finalized ruling from the Supreme Court ordered damages ranging from as little as $6 to around $6,400 be paid to the 132 investors involved.<\/p>\n<p>\u201cThe burden or the cost of technological failures should be shouldered by the service operator, not [the] service users who pay commission for the service,\u201d the court stated.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/south-korea-to-deploy-cryptocurrency-tracking-system-in-2023\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; South Korea to deploy cryptocurrency tracking system in 2023 &#8220; The Ministry of Justice in South Korea announced plans to introduce a crypto tracking system to counter money laundering initiatives and recover funds linked to criminal activities. The \u2018Virtual Currency Tracking System\u2019 will be used to monitor transaction history, extract information related to transactions&#8230;<\/p>\n","protected":false},"author":1,"featured_media":545054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/bcb1911d-0600-4083-a2c7-452694b388b2.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74355,71433,33897,70934,72420],"class_list":["post-545053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-adoption","tag-court","tag-money-laundering","tag-regulation","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/545053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=545053"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/545053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/545054"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=545053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=545053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=545053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}