FSS of South Korea Starts Investigation into Leading Crypto Exchanges

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Start of the Investigation
  2. New Laws and Consequences
  3. FSS Next Steps


    4. South Korea’s Financial Supervisory Service (FSS) announced on Tuesday that it is launching an investigation into major crypto exchanges in the country, including Upbit, to identify and address any illicit or unfair practices.

    Start of the Investigation

    South Korea’s Financial Supervisory Service (FSS) announced on Tuesday that it is launching an investigation into major crypto exchanges in the country. Upbit, one of the leading trading platforms, is included in the probe. The objective is to identify and address any illicit or unfair practices within these exchanges.

    New Laws and Consequences

    According to a report from Yonhap News Agency, this marks the first time the FSS has conducted such a probe since the new Virtual Asset Users Protection Act took effect in July. The new regulations introduce hefty fines and potential life imprisonment for those who profit more than 5 billion won ($3.7 million) from illicit crypto activities. The FSS has indicated it has already detected 'unusual cases' in two South Korean-won-based exchanges, prompting further investigation.

    FSS Next Steps

    The FSS aims to establish market order through thorough investigations and appropriate actions against violators. A representative noted, 'The FSS will establish market order through strict measures...'. The announcement of the investigation's outcome is expected soon and could significantly impact the future of crypto regulation in South Korea.

    South Korea’s Financial Supervisory Service has launched a large-scale investigation into crypto exchanges to uncover and eliminate illicit transactions, potentially affecting the future regulation of the cryptocurrency market in the country.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Microsoft Stock Surpasses 500 Mark Amid Analyst Buy Ratings

Microsoft's stock has climbed above the 500 level, opening at 509 during Tuesday's trading session. Analysts have given MSFT a buy rating, with predictions suggesting it could reach above 600.

user avatarJesper Sørensen

Oracle Integrates with Swift's Blockchain for Enhanced Banking Payments

Oracle announced a significant integration with Swift's blockchain ledger to facilitate tokenized deposit payments for banks.

user avatarRajesh Kumar

TRON DAO Rings Closing Bell at Cboe for TRXS Listing

TRON DAO rings the closing bell at Cboe Global Markets to celebrate the listing of TRXS, an exchange-traded product linked to TRX.

user avatarLucas Weissmann

MEXC Launches 'WE SEE YOU' Campaign to Highlight Individual Traders

MEXC has launched a new brand identity focused on the philosophy 'WE SEE YOU', emphasizing the importance of individual traders behind accounts.

user avatarFilippo Romano

Citi and Coinbase Enhance Partnership for Stablecoin Payments

Citi and Coinbase have expanded their partnership to facilitate stablecoin payments for corporate clients, allowing seamless transactions between traditional and digital currencies.

user avatarEmily Carter

MEXC Reports Surge in After-Hours Trading Activity

MEXC reports a significant increase in after-hours trading volume, surpassing regular hours, with 4920 tokenized stocks traded outside regular hours during July-August 2026.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.