Financial authorities lay out additional guidelines on virtual currency transactions

The ship manager of the Lighthouse Winmore,
a tanker recently seized in South Korea for alleged sanctions violations has denied any
knowledge of the vessel’s involvement in trade with North Korean entities. The deputy general manager of the Winmore’s
Chinese ship management firm told the South China Morning Post that the company was unaware
the tanker had been used to breach UN sanctions imposed on North Korea. He said the company just rents the ships out
and are not aware of what goods the ship carry’s emphasizing that Winmore operates under a charter to a Taiwanese company. This Hong Kong registered shipping vessel
was seized and inspected by South Korean customs officials in late November for transferring
6-hundred tons of refined oil to a North Korean ship on October 19th.

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