• South Korea launches new system to combat crypto fraud and hacks.
• FSS partners with KISA to enhance regulatory oversight and investigations.
• New regulations prioritize user protection and align with global standards.

South Korea is ramping up efforts to combat fraud and cybercrime in the cryptocurrency market, unveiling a new joint response system aimed at curbing hacks and unfair trading practices.

Lee Bok-hyun, the South Korean Financial Supervisory Service (FSS) Governor, recently unveiled the nation’s new joint response system designed to combat the rising number of hacks and fraudulent activities in the virtual asset ecosystem.

This move follows South Korea’s recent implementation of new regulatory policies, which are in line with public demand for crypto-friendly national policy. Financial Services Commission (FSC) Chairman Kim Joo-hyun announced the nation’s goal to adopt a crypto framework that meets public needs and aligns with global financial standards.

In a recent development, the FSS signed a memorandum of understanding (MoU) with the Korean Internet and Security Agency (KISA). The MoU is an agreement to enhance cooperation in implementing …

The post South Korea Enacts New Protections for Virtual Asset Users appeared first on Coin Edition.

• South Korea launches new system to combat crypto fraud and hacks.
• FSS partners with KISA to enhance regulatory oversight and investigations.
• New regulations prioritize user protection and align with global standards.

South Korea is ramping up efforts to combat fraud and cybercrime in the cryptocurrency market, unveiling a new joint response system aimed at curbing hacks and unfair trading practices.

Lee Bok-hyun, the South Korean Financial Supervisory Service (FSS) Governor, recently unveiled the nation’s new joint response system designed to combat the rising number of hacks and fraudulent activities in the virtual asset ecosystem.

This move follows South Korea’s recent implementation of new regulatory policies, which are in line with public demand for crypto-friendly national policy. Financial Services Commission (FSC) Chairman Kim Joo-hyun announced the nation’s goal to adopt a crypto framework that meets public needs and aligns with global financial standards.

In a recent development, the FSS signed a memorandum of understanding (MoU) with the Korean Internet and Security Agency (KISA). The MoU is an agreement to enhance cooperation in implementing …

The post South Korea Enacts New Protections for Virtual Asset Users appeared first on Coin Edition.