the Financial authorities in South Korea The counter -measures are taught against these Encryption That works in the country without compliance with the strict regulations in force.
Financial Intelligence Unit (FIU) from Financial Services Committee It has launched an investigation into many platforms suspected of providing services to South Korean investors without a suitable registration as two virtual asset services services (VASPS).
Among the possible penalties, the prohibition of access to these exchanges and other restrictions is imagined.
This decision is part of a broader strategy to organize cryptocurrencies in South Korea, a country that has provided strict rules to ensure more transparency and security in the sector.
The case also includes major platforms, including CocoineWhile he doubts simultaneously The financial misconduct also shows the main South Korean stock exchanges.
Monitoring for encryption: standards and possible penalties in South Korea
South Korea government It requires Which – which The encryption service operators report their activity to FIU Based on The specific financial information law.
Anyone who offers Trade, custody, mediation, or virtual asset management The services are considered to be without following this directive illegally, and the risk Administrative and criminal penalties.
According to local sources, FIU launched an investigation into different exchanges, as it has set those that provide Marketing and customer support for South Korean investors without being officially registered.
The authorities are planning to technically prevent access to these services in the country.
An official from FIU confirmed that the government is studying concrete measures, in cooperation with Korea Standards Committee for CommunicationsThe authority responsible for organizing the Internet in the country.
The goal is to prevent access to incompatible exchanges to protect investors and maintain control of the encryption sector.
Among the platforms that would be subject to scrutiny, Cocoin, one of the most famous stock exchanges in the world.
In response to the investigations, a Cocoin spokesman told Cointelegraph The company is closely monitoring organizational developments around the world, including South Korea.
The company repeated its commitment Compliance NormativaEmphasizing that the responsible approach is necessary for the sustainable development of the encryption sector.
Although the platform data shows attention to local regulations, it remains to see whether it will succeed in compliance with the standards required by the South Korean authorities.
South Korean exchange investigations: Bithumb case and corruption charge
Parallel to foreign exchange investigations, the Southern Korean organizers take Doubts of financial misconduct also between Local exchanges.
on March 20Prosecutors Search for Bithumb headquarters After embezzlement allegations against the former CEO, Kim Die Sick.
Kim is suspected The company’s money used to buy an apartmentIn violation of financial regulations.
However, the company replied by saying that the former CEO had already arranged Money compensation through a loanRefuse the allegations of misconduct.
Besides Bithumb, Rumors about illegal practices related to the inclusion of new digital assets It appeared.
According to unknown sources he was martyred Wu BlockchainIt was claimed that some projects were paid One million dollars for brokers to be included in exchanges such as Upbit and Bithumb.
In the face of these accusations, Upbit transparently requestedInvite the source of accusations to reveal the names of the relevant projects.
The lack of concrete details still makes the developments of this issue unconfirmed, but the amount is Practices of favoritism in the list can display the credibility of the encryption sector in South Korea.
The effect of regulations in South Korea
In recent years, South Korea has adopted A strict organization in the encrypted currency sectorImposing strict guidelines for exchanges and financial services operators.
The regulations aim to reduce risks Money laundering, fraud and manipulation of the marketIncreased security for investors.
However, these restrictions have led some platforms to work in A. Incompatible In a way, their presence in the South Korean market endangers.
maybe The mass of access to foreign exchanges Local investors can lead to the use of exclusive services registered in the country, ensuring increased control by the authorities.
On the other hand, some experts believe that excessive organizational hardness can Reducing innovation and competitiveness in the encryption sector. The exact balance between security and growth in the sector is still a decisive challenge for the future of cryptocurrencies in South Korea.
The South Korean authorities intensify their supervision on both the local and foreign currency platforms, and the compliance of the current regulations.
maybe Close access to exchanges such as kucoin A revolution can occur in the coding market in the country, while Investigations into Bethome and corruption fees on other platforms Fuel doubts about the safety of the sector.
The future of the cryptocurrency market is adopted in South Korea On the balance between organization, security and innovationIn a context that is still developing quickly.
