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South Korea’s monetary watchdog is reviewing a proposal to permit authorities to freeze cryptocurrency accounts instantly when manipulation is suspected.
The Monetary Companies Fee (FSC) is engaged on this after a Newsis report discovered that criminals might transfer positive factors earlier than the present court docket processes cease transfers.
This initiative would mirror a course of that the nation’s inventory regulators use to dam entry to accounts and forestall income from being withdrawn after unlawful actions.
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In accordance with officers, front-running, automated wash trades, or early bulk purchases usually result in income that may vanish inside a brief window if not frozen shortly.
The FSC hopes new measures will let businesses step in earlier than unjust positive factors are withdrawn. These preventive instruments are anticipated to assist monetary enforcement groups handle incidents that slip by oversight resulting from sluggish present procedures.
Up to date guidelines below the Capital Markets Act took impact in April 2025, which gave regulators the ability to limit accounts linked to unfair buying and selling or unlawful quick promoting. In November 2025, officers started discussing whether or not crypto markets must be topic to the identical necessities.
Regulators have highlighted that, with digital currencies, cash will be shortly despatched exterior exchanges to private wallets.
Just lately, Kim Byung-kee, a determine in South Korea’s Democratic Social gathering, was below scrutiny about his actions towards Bithumb
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