South Korea Explores Crypto Account Freezing Measure To Prevent Market Manipulation
South Korea's Financial Services Commission (FSC) is considering a system to preemptively freeze crypto accounts suspected of market manipulation. This measure aims to prevent suspects from hiding or withdrawing illicit profits obtained through tactics like pre-purchasing, automated trading, and price inflation. Unlike current rules requiring court warrants, the new system would allow swift action to block withdrawals, transfers. The proposal draws inspiration from a similar stock market mechanism. This initiative is part of the broader Second Phase of the Virtual Asset User Protection Act, which has been delayed to 2026 due to disagreements between the FSC and the central bank over stablecoin issuance rules.
bitcoinist01/07 13:32
