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If there is a history of crimes committed by not only the representatives and executives of the cryptocurrency exchange, but also the beneficial owner, it is expected to be a reason for disqualification.
According to the financial authorities on the 27th, the Financial Information Analysis Institute (FIU) under the Financial Services Commission is reviewing the revision of the Specific Financial Information Act (Special Act), which allows the beneficial owner to refuse registration as a virtual asset business operator if he or she has a criminal record. . This is to meet the international standards of the Anti-Money Laundering Organization (FATF) and was announced in this year’s Financial Information Analysis Institute’s work plan.
An official from the Financial Analysis Institute said, “It is reviewing to comply with the standards of international organizations,” and said, “The timing of submitting the bill to the National Assembly has not been confirmed.”
According to the current special money law, cryptocurrency exchanges must obtain a deposit and withdrawal account from the bank to verify their real name by September 24, and report it to the Financial Analysis Agency. At this time, if the representatives and executives of the cryptocurrency exchange have committed illegal activities related to finance, the financial authorities may refuse to register on the exchange. However, there are no regulations regarding large shareholders or beneficial owners.
On the 23rd, the former chairman of the board of directors of Bithumb Holdings and Bithumb Korea (45), the actual largest shareholder of Bithumb, was sent to the prosecution on charges of fraud under the law regarding aggravated punishment for specific economic crimes. However, since there are no provisions related to large shareholders in the current special payment law, it is unlikely that the charges of the former chairman will be the reason for disqualification in the business reporting process.
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