South Korean Lawmakers Seek to Strengthen Crypto Oversight

A group of South Korean lawmakers led by Eom Tae-young have proposed a bill to empower the Financial Intelligence Unit (FIU) in investigating unregistered cryptocurrency businesses.

The current system has a significant bottleneck, with 23 out of 25 investigations into such cases suspended between August 2022 and August 2025.

The new bill would allow the FIU to file complaints and request criminal investigations without relying solely on law enforcement agencies.

This would enable the unit to take action directly against unregistered operators, cutting out at least one layer of bureaucratic delay.