Central Bank of South Korea may review cryptocurrency operations and issuances

The move is part of the tightening of crypto regulations in South Korea

South Korea authorized the Central Bank to deepen the monitoring of cryptocurrency transactions in the country, as well as the issuances of operators with digital assets.

According to information recently published by the local outlet The Korea Herald, the BoK now has the right to “investigate the operators of cryptocurrency-related companies.”

Despite the fact that there has been a kind of competition between the financial entity and the Financial Services Commission (FSC), for the jurisdiction of cryptocurrencies, it will be the latter that will make the decisions on regulation after today’s meeting.

Either way, it is important to be clear that for the time being, both the BoK and the FSC will have full access to transaction data.


Source: es.cointelegraph

(Reference image source: Daniel Bernard, Unsplash)

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