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South Korea’s Financial Services Commission and Financial Supervisory Service will strengthen monitoring of offshore perpetual contracts on South Korean stocks and stock indexes and rigorously investigate illegal solicitation and business activities targeting South Korean residents.
South Korea will block 27 unregistered cryptocurrency exchange platform websites and take service-termination measures against relevant platforms operating domestically.
South Korea's FIU FIU said the relevant deliberation body decided to restrict domestic access to the websites of 27 unregistered virtual asset service providers, expanding the scope from application downloads and updates to website access.
South Korea FIU said that the communications review body decided to restrict domestic access to the websites of 27 virtual asset operators that failed to register as required by law, expanding the restrictions from app markets to websites.
South Korea’s Financial Services Commission plans to amend the laws to include stocks, bonds, and funds within the scope of tokenization, opening them in phases to institutional and retail investors.
South Korea’s Financial Services Commission has announced proposed amendments to subordinate regulations related to security tokens, proposing to include traditional securities such as stocks, bonds and funds within the scope of tokenization, and setting out requirements for distributed ledgers and issuer account management institutions.
Yoo Young-jun, Digital Finance Policy Officer at South Korea’s Financial Services Commission, said that the market-making system is being reconsidered during the second phase of virtual asset regulatory legislation, alongside stronger oversight of exchanges, fair trading, and user protection.