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

Bitcoin Price Recovery Approaches $78,000

Bitcoin's price recovery has brought it closer to the $78,000 mark after a week of volatility.

user avatarSon Min-ho

LIT Token Surges Amidst Mixed Performance in Altcoins

Lighters LIT token experienced a significant surge of approximately 18% to $3.19 on November 1, 2026, amidst mixed performance in major cryptocurrencies.

user avatarZainab Kamara

Circle Releases Technical Guidance for ERC20 Transfers Using CCTP

Circle has published a developer guide detailing how issuers can utilize its CrossChain Transfer Protocol (CCTP) for ERC20 assets beyond USDC.

user avatarAyman Ben Youssef

Curve Finance Launches StableSwap on Stellar Mainnet

Curve Finance has launched its StableSwap system on the Stellar mainnet, marking its first native deployment outside the Ethereum ecosystem.

user avatarTando Nkube

Ondo Finance Introduces Tokenized Investment Portfolios on Solana

Ondo Finance has launched seven investment portfolio tokens on the Solana blockchain for eligible investors outside the US, providing managed exposure to tokenized equities and ETFs.

user avatarKofi Adjeman

Market Implications of Aave's Tokenized Equity Lending Explored

A case study on the market implications of borrowing against tokenized equities following the launch of Aave's V4s Equities Hub, highlighting market liquidity and associated risks.

user avatarNguyen Van Long

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.