South Korea to inspect crypto exchanges for suspicious transactions

South Korea’s FSS to enforce stricter regulations on crypto exchanges, with possible legal repercussions for noncompliance.

South Korea’s financial regulator, the Financial Supervisory Service (FSS), will reportedly begin inspecting virtual asset exchanges for any suspicious or illegal transactions.

The FSS will enforce market order with strict punishments for illegal activities found during inspections and will advocate for regulatory revisions if needed to address system deficiencies, a local news media reported, quoting the regulator.

In its inspection, the regulator will look for suspicious transactions and ensure that crypto exchanges and related companies comply with the regulations.

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South Korea’s FSS to enforce stricter regulations on crypto exchanges, with possible legal repercussions for noncompliance.
South Korea’s financial regulator, the Financial Supervisory Service (FSS), will reportedly begin inspecting virtual asset exchanges for any suspicious or illegal transactions.The FSS will enforce market order with strict punishments for illegal activities found during inspections and will advocate for regulatory revisions if needed to address system deficiencies, a local news media reported, quoting the regulator.In its inspection, the regulator will look for suspicious transactions and ensure that crypto exchanges and related companies comply with the regulations.Read more