South Korean financial regulators are cracking down on unauthorized cryptocurrency funds In particular one crypto fund launched by a local exchange is reportedly being investigated The exchange claims no wrongdoing as its token activities were carried out overseas but has promptly canceled its plan to launch a second fund

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Following the latest statements from Chinas central bank concerning cryptocurrencies and offshore crypto exchanges massive amounts of funds have been moving onchain On September 26 at approximately 100 am UTC 72999 BTC or 31 billion in bitcoin was dispersed to unknown wallets

South Korean financial regulators are cracking down on unauthorized cryptocurrency funds In particular one crypto fund launched by a local exchange is reportedly being investigated The exchange claims no wrongdoing as its token activities were carried out overseas but has promptly canceled its plan to launch a second fund