(MENAFN) The Financial Services Commission (FSC) in South Korea has declared that it will investigate three commercial banks to check whether they are abiding by the guidelines against suspected money laundering linked to cryptocurrencies.
According to the FSC, the inspection which will start on April 19, will affect Nonghyup Bank, Kookmin Bank and KEB Hana Bank.
It said that it will focus on whether the banks comply with the guidelines in cryptocurrency transactions with both corporate and individual accounts.
Three months ago, the country has launched a real-name trading system for cryptocurrency transactions to prevent virtual coins from being used for money laundering and other illegal activities.
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