• 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

Market Phases and Volatility in Bitcoin Trading

chest

Analyst Mags outlines the two distinct phases of Bitcoin trading: the Bull Phase characterized by upward trends and the Bear Phase triggered by market structure breaks.

user avatarSon Min-ho

Bitcoin's Safehaven Potential Amidst Global Instability

chest

Bitcoin is viewed as a potential safehaven asset due to its unique characteristics, but it still behaves like a risk asset during uncertain times.

user avatarAyman Ben Youssef

Emerging Patterns in Meme Coins Highlight Market Coordination

chest

Analyst LSTrader outlines a broader strategy for Dogecoin, noting similar technical setups emerging across multiple meme coin projects.

user avatarTando Nkube

US Treasury Freezes $344 Million in Iranian Cryptocurrency

chest

The US Treasury Department has frozen over $344 million in cryptocurrency linked to Iranian military and political groups as part of efforts to cut off financial resources amid rising tensions.

user avatarNguyen Van Long

Ethereum Foundation Completes 10,000 ETH Sale to BitMine

chest

The Ethereum Foundation has completed a sale of 10,000 ETH to BitMine in an over-the-counter deal.

user avatarKofi Adjeman

AI Chatbots Linked to Reinforcement of Harmful Beliefs

chest

Researchers from Stanford University have raised concerns that prolonged interactions with AI chatbots can lead to the reinforcement of harmful beliefs and delusions.

user avatarJesper Sørensen

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.