The South Korean authorities have reported a record number of suspicious cryptographic transactions this year, the total figures have already exceeded the combined figures of the last two years.
Citing data from the Intelligence Financial Unit (FIU) provided to the representative statistics of Jin Sung-Joon and customs services statistics (KCS), Yonhap News indicated that local virtual asset service providers (VASP) had filed 36,684 suspect transaction reports (STR) between January and August 2025.
The STRs are one of the main anti-whiteness tools (AML) in South Korea. Under the laws of the country, financial institutions, casinos and basins must deposit STRs when they have reasonable reasons to suspect that funds imply a criminal product, money laundering or terrorist funding.
According to data, the STRs deposited between January and August exceed the combined totals of 2023 and 2024, when the STRs were 16,076 and 19,658 respectively. He also eclipses 2021, which had 199 cases and 2022, which had 10,797.
Authorities have an eye for foreign funds and illegal stables
South Korean officials have said that a majority of reported transaction flows involve “Hwanchigi” or illegal shipments. In these cases, criminal products are converted to crypto using offshore platforms. These are then transported in the interior exchanges, then conceded Won.
From 2021 to August 2025, the KCS returned $ 7.1 billion in crimes related to the crypto to prosecutors, with $ 6.4 billion (approximately 90%) linked to Hwanchigi diets.
In May, customs officials discovered an underground broker accused of using the Littoral (USDT) shield to illegally move around $ 42 million between South Korea and Russia. Two Russian nationals were accused of having carried out more than 6,000 illegal transactions between January 2023 and July 2024.
Due to cases like these, Jin has urged agencies such as KCS and FIU to strengthen effective application to follow criminal funds and block disguised funds.
The official said that government agencies should establish systematic countermeasures against new types of exchange crimes.
In relation: Cryptographic companies in South Korea obtain the status of “venture capital society” next week
A global political concern
South Korea figures show a wider political dilemma facing regulators around the world. Although stablecoins and digital currencies offer faster and cheaper payments, they also create new channels for illicit flows.
Crypto-active market markets (MICA) markets of the European Union deals with illicit cross-border risks by demanding that transmitters be authorized to ensure transparency.
It also caps large volumes of stable. Mica limits stable transfers to one million transactions per day or a notional value of 200 million euros per day.
In 2021, decision -makers from the European Central Bank launched the idea of limiting assets in digital euros to 3,000 euros per person to prevent uncontrolled exchange activity.
In 2023, the Bank of England floated by fixing individual ceilings in digital books between 10,000 ($ 13,558) and 20,000 British pounds. However, British crypto groups have criticized the approach, saying that these limits do not work in practice.
Review: XRP is the most efficient asset in Thailand, Shanghai Dumps Fil: Asia Express