The number of reports on illegal transactions involving virtual assets in South Korea this year has exceeded the total of the past two years.

According to Mars Finance, South Korean lawmaker Jin Seong-jun cited data from the Financial Intelligence Unit (FIU), revealing that from January to August this year, South Korean virtual asset service providers submitted a total of 36,684 suspicious transaction reports (STR), exceeding the total of 35,734 reports from the past two years. According to the current Specific Financial Information Act, virtual asset service providers in South Korea are required to report transactions suspected of money laundering to the FIU. Additionally, the Customs Service disclosed that in May this year, a case was uncovered in which an underground exchanger illegally transferred approximately 57.1 billion won using the stablecoin USDT across borders.