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

South Korea to inspect crypto exchanges for suspicious transactions

user avatar

by Giorgi Kostiuk

a year ago


  1. South Korea's Crypto Regulation
  2. Investor Protection Measures
  3. Global Regulatory Trends

  4. South Korea’s financial regulator, the Financial Supervisory Service (FSS), will reportedly begin inspecting virtual asset exchanges for any suspicious or illegal transactions. The regulator aims to enforce market order and is prepared to advocate for regulatory revisions to address system deficiencies.

    South Korea's Crypto Regulation

    On July 19, South Korea’s 'Virtual Asset User Protection Act' came into effect, which includes measures such as insuring against hacks and malicious attacks on user crypto assets and keeping customer assets separate from the exchange’s assets.

    Investor Protection Measures

    The Financial Supervisory Service is authorized to inspect Virtual Asset Service Providers (VASPs) for compliance with their duties to protect users. The Financial Services Commission (FSC) is authorized to bring sanctions against rule-breakers, including issuing corrective orders, suspensions, and administrative fines.

    The FSS is authorized to inspect VASPs for compliance with their duties to protect users, and the FSC is authorized to bring sanctions against rule-breakers by making corrective orders, issuing suspension of business operation, imposing administrative fines, and so on.Financial Supervisory Service

    Global Regulatory Trends

    Alongside South Korea, several jurisdictions across the world are increasing scrutiny of digital asset trading platforms to protect crypto assets. In Hong Kong, operating an unlicensed virtual asset trading platform became a criminal offense as of June 1. In the UK, Coinbase’s local arm was fined $4.5 million for breaches related to user onboarding.

    Regulation and the protection of cryptocurrency users have become increasingly relevant topics on the international stage. South Korea continues to refine its measures to ensure security and transparency in the cryptocurrency sector.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bank of Japan Signals Future Interest Rate Hikes

chest

Bank of Japan Governor Ueda Kazuo indicated that the central bank is likely to raise interest rates again if the economy continues to improve.

user avatarJacob Williams

Japan to Introduce Record Budget for Fiscal Year 2026

chest

Japan's Prime Minister Takaichi Sanae announced a historic budget of 122.3 trillion yen for the fiscal year starting April 2026, marking a 6.3% increase from the previous year.

user avatarAndrew Smith

Next Block Expo 2026 to Highlight Blockchain Innovations in Warsaw

chest

Next Block Expo 2026, a major blockchain event in Europe, is set to take place in Warsaw, Poland on March 24-25, 2026.

user avatarZainab Kamara

New Avenues for Individual Investment in Green Bonds

chest

Various channels exist for individual investors to access green bonds, including funds, ETFs, and online platforms.

user avatarMaya Lundqvist

Green Bonds: A Dual Mandate of Financial Prudence and Social Responsibility

chest

Investing in green bonds meets the dual goals of financial prudence and social responsibility, providing stable income and risk mitigation against climate change.

user avatarTomas Novak

Future Gas Limit Increases Expected for Ethereum

chest

Future gas limit increases for Ethereum are expected in 2026, with projections between 100 million and 200 million, aimed at meeting transaction demands while ensuring decentralization and security.

user avatarSon Min-ho

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.