• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

South Korea Strengthens Oversight on Crypto Exchanges to Prevent Fraud under New Law

user avatar

by Giorgi Kostiuk

2 years ago


South Korea is intensifying its efforts to combat cryptocurrency fraud with the impending enforcement of a new digital asset legislation. The nation's financial regulatory body, the Financial Supervisory Service (FSS), is implementing a comprehensive surveillance mechanism to eradicate deceptive crypto trading activities within domestic exchanges. This initiative forms part of a larger campaign aimed at bolstering safeguards for investors.

As reported by Bloomberg, the Financial Supervisory Service (FSS) disclosed plans to establish a monitoring system designed to identify suspicious trading behaviors in the crypto market. The FSS has called upon crypto exchanges to furnish the necessary data and details to facilitate compliance with the regulations set to go live on July 19.

In response to the stricter regulatory environment, exchanges are mandated to enhance their surveillance capabilities to conform with the stringent oversight changes. The objective is to uphold market integrity and safeguard investors through real-time trading analysis and heightened investor protections. This move signifies South Korea's proactive stance in cracking down on illicit activities in the cryptocurrency sector.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Concerns Surrounding Ethereum Foundation Spark Debate

chest

Concerns about the Ethereum Foundation's management have led to increased FUD, but development continues through various contributors.

user avatarArif Mukhtar

Ethereum Enters a Period of Stabilization Amid Market Instability.

chest

Ethereum has entered a rangebound structure following a strong rally, allowing the market to absorb gains and establish new support levels.

user avatarLuis Flores

Lingrid Identifies Ideal Buy Zone for Ethereum Amid Market Dip

chest

Crypto expert Lingrid highlights a 'Kill Zone' for Ethereum, suggesting optimal entry points for traders.

user avatarMaria Gutierrez

Bitcoin Faces Increasing Bearish Pressure as Key Support Levels Threatened

chest

Bitcoin is showing signs of weakness as bearish pressure builds below critical technical levels, with key support zones under threat.

user avatarDavid Robinson

Surge in XRP Payment Activity During Market Decline

chest

Surge in XRP payment activity during market decline, with payments processed on the XRP Ledger increasing from below 1 million to 122 million by May 22.

user avatarJacob Williams

FDIC Proposes New Compliance Standards for Stablecoin Issuers

chest

The FDIC has proposed new regulations requiring Permitted Payment Stablecoin Issuers to comply with existing banking compliance standards.

user avatarAndrew Smith

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.