South Korean Crypto Exchanges Search for ‘Seamless’ AML Solutions
With just months to go before new legislation comes into force requiring all of South Korea’s crypto exchanges to implement strict anti-money laundering (AML) policies, the race is now on to adopt solutions ahead of time – and avoid falling foul of the law. So which AML solutions are South Korean crypto exchanges adopting ahead of next year’s legal changes?.
Per D Daily, some exchanges started preparing their AML solutions in February, before the new law was even voted in. The other two members of the traditional “big four” exchanges, Coinone and Korbit, have partnered with AML solution provider Able Consulting, a firm created by former AML experts at Samil-PwC, a PricewaterhouseCoopers joint-venture – in addition to in-house development efforts that make use of AI technology.
