Topic: South Korea’s Top Financial Watchdog (Read 95 times)
Wow seems to be important news. Some of South Korean investors will try to cash out, which will mean the global prices to go down. Thus, it is a good opportunity to buy some alts really cheap - for sure they will grow back.
South Korea’s Top Financial Watchdog Joins Probe Into Cryptocurrency Exchanges
South Korea’s top financial regulator the Financial Services Commission (FSC) joined the ongoing probe into local cryptocurrency exchanges Sunday, May 13.
The FSC will now be taking part in the anti money laundering investigation, hitherto led by the Financial Supervisory Service (FSS), in order to help expand its scope, news outlet Korea Times reports.
Commenting on the agency’s move, Vice Chairman of the FSC Kim Yong-beom has urged regulators worldwide to coordinate their regulatory policies on cryptocurrencies.
Following a request from the FSS, the FSC will now check bank accounts belonging to Korean crypto exchanges on compliance with anti-money laundering (AML) standards and other fraud prevention measures. According to Korea Times’ report, the main subject of the expanded audit would be Bithumb, the country’s largest crypto exchange which revealed plans to launch its own crypto token back in April.
By Helen Partz
https://cointelegraph.com/news/south-koreas-top-financial-watchdog-joins-probe-into-cryptocurrency-exchanges
South Korea’s top financial regulator the Financial Services Commission (FSC) joined the ongoing probe into local cryptocurrency exchanges Sunday, May 13.
The FSC will now be taking part in the anti money laundering investigation, hitherto led by the Financial Supervisory Service (FSS), in order to help expand its scope, news outlet Korea Times reports.
Commenting on the agency’s move, Vice Chairman of the FSC Kim Yong-beom has urged regulators worldwide to coordinate their regulatory policies on cryptocurrencies.
Following a request from the FSS, the FSC will now check bank accounts belonging to Korean crypto exchanges on compliance with anti-money laundering (AML) standards and other fraud prevention measures. According to Korea Times’ report, the main subject of the expanded audit would be Bithumb, the country’s largest crypto exchange which revealed plans to launch its own crypto token back in April.
By Helen Partz
https://cointelegraph.com/news/south-koreas-top-financial-watchdog-joins-probe-into-cryptocurrency-exchanges
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