Crypto Watchdog Alert: South Korea Unveils Round-the-Clock Monitoring to Comb...
According to a recent report, South Korea has taken a significant stride towards “enhancing the security and “integrity” of its cryptocurrency market. On July 4, the nation’s financial watchdog, the Financial Supervisory Service (FSS), officially announced the launch of a 24-hour monitoring system aimed at detecting and addressing dubious activities within the crypto sector in […]
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South Korea aims to form a digital asset watchdog by June, according to local media sources. The committee will oversee regulation of the space until the government is able to draft basic laws on digital assets. South Korea Launch Crypto Watchdog The committee will be unveiled during the last week of June, according to a […]
Although bitcoin prices plummeted over the weekend, the overall bull-run remains alive, as well as the crypto-related fraud cases in South Korea. The latest figures by the domestic financial watchdog show that such incidents are still on the rise. Police to Dedicate a Special Unit to Investigate Crypto Frauds According to Asia Kyungjae, the Financial Supervisory Service (FSS) revealed that crypto fraud reports skyrocketed by over 41.6% yearly. The statistics from the FSS from January to October 2020 show that the 41,6% increase belongs to 555 cases of suspicious transactions. Due to the....
The Financial Services Commission (FSC) in South Korea has set a deadline for foreign and local crypto exchanges to register as legal trading platforms. The financial watchdog has set a September 24 deadline for exchanges to comply. This requirement is part of an effort to tighten oversight of the country’s exuberant crypto sector. Consequently, nearly two-thirds […]
South Korea's top financial watchdog wants legal changes making it mandatory for cryptocurrency firms to report the names of customers.
South Korean authorities are intensifying their monitoring of phishing activity related to cryptocurrencies. The government has identified a record number of websites trying to obtain login details from crypto exchange users. Over 30 sites have been taken down in just three months this year. Seoul Strengthens Monitoring of Crypto Phishing Scams Rising market prices have led to an increased number of phishing attempts targeting investors and users of cryptocurrency in South Korea. The government in Seoul announced it’s strengthening its monitoring system to quickly detect such....