South Korea will implement a cryptocurrency tracking system in 2023

The "Virtual Currency Tracking System" will be used to track transaction history, extract transaction details, and verify the source of money prior to and after the transfer.

 

South Korea's Ministry of Justice revealed intentions to implement a crypto-tracking system to combat money laundering and reclaim cash associated with illegal activity.

According to local media site khgames, the "Virtual Currency Tracking System" would be used to monitor transaction history, extract transaction details, and confirm the source of funds before and after transmission.