South Korea Enhances Crypto Regulations to Combat Market Manipulation

South Korea aims to strengthen cryptocurrency regulations, focusing on curbing market manipulation and imposing harsher penalties for IT incidents.

The Financial Supervisory Service (FSS) of South Korea is set to enhance its regulatory framework for cryptocurrencies, according to a report by Yonhap News Agency. In an effort to tackle market manipulation and ensure the integrity of the digital asset sector, the FSS plans to implement stricter oversight measures.

Moreover, the agency intends to impose tougher penalties related to IT-related mishaps, reflecting a growing commitment to safeguarding investors and maintaining market stability. This initiative underscores the South Korean government's increasing vigilance over the cryptocurrency landscape.