The Financial Intelligence Unit (FIU) has issued a warning about the rapid increase in illegal virtual asset operators active on platforms such as Telegram, open chat rooms, social media, and YouTube.
The FIU, under the Financial Services Commission, released a statement on December 2, emphasizing, "Except for the 27 registered virtual asset service providers, all others are considered 'illegal'." The agency warned, "Illegal operators may not have sufficient anti-money laundering measures or user protection systems as required by relevant laws."
The FIU explained that, although it has been notifying investigative authorities of illegal operators identified through complaints and reports, and requesting app access blocks, new illegal operators continue to emerge beyond the official notification list.
Representative examples include: ▲ anonymous stablecoin (such as Tether) exchanges via Telegram and open chat rooms; ▲ promotion or brokerage of unregistered overseas exchanges; ▲ illegal foreign exchange transactions (unregistered foreign exchange business) using virtual assets as intermediaries.
In reality, cases of financial damage are increasing, such as selling worthless coins by falsely claiming they have 'surge potential', or accepting payment for purchases but failing to deliver the coins. The FIU stressed that anyone can directly report suspected illegal virtual asset activities to investigative authorities.
The FIU stated, "We strongly advise against conducting transactions through illegal virtual asset operators," and added, "If you transact through these operators and suffer financial losses, it may be difficult to seek recourse."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
