South Korean Financial Authorities Oppose Special Regulatory Support for the Establishment of Virtual Asset Exchange in Busan

South Korean financial authorities oppose the establishment of special regulatory support for virtual asset exchange in Busan. The authorities claim that Binance, Huobi and FTX all present high money laundering risks globally. In the case of Binance in particular, it has been cited as a money laundering risk in the UK, Japan, Canada and Italy and has been barred from operating due to its inability to resolve these allegations. In the United States, the Department of Justice is investigating money laundering practices.