South Korea’s FSC will focus on investigating whether crypto exchanges are fulfilling their internal control obligations

09/08 05:40

According to News1, the Financial Services Commission of South Korea have announced that they will focus on whether they have properly fulfilled their obligations to establish internal controls when inspecting virtual asset (cryptocurrency) exchanges in the future. According to the Enforcement Decree of the Special Provisions Act, virtual asset exchanges must establish standards for restricting transactions of virtual assets issued by business operators and related parties. Virtual asset exchange executives and employees are also restricted from trading on the exchange.

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