OTC Crypto Market Alarms South Korean Regulators: $4B In Illicit Trades Unearthed

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South Korean financial regulators are concerned about the rising criminal activities in the OTC crypto market trading. The OTC crypto market defines trading that is outside the government regulatory purview and digital currency OTC transactions include all transactions outside regulated platforms. According to a report by the Korea Customs Service, illicit foreign exchange transactions carried out with digital currencies were valued at an estimated $4 billion in the past year. The report further adds that 172 cryptocurrencies are available on South Korea’s largest regulated crypto platform, Up…

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