PANews reported on June 24, citing Newsis, that the Korea Financial Intelligence Unit (FIU) has referred approximately 40 unregistered virtual asset service providers to law enforcement agencies. The report noted that because these unregistered entities are not subject to South Korea's Virtual Asset User Protection Act or the Act on Reporting and Use of Specific Financial Transaction Information, they face risks such as personal data breaches and hacking attacks, and may also be used for money laundering and concealing criminal funds.