It has been announced that the Central Bank of South Korea has been given new authority to conduct investigations into the virtual asset legislation in the country.
On April 20, local media outlet The Korea Herald told the Bank of Korea ( Shit) announced that it will be given the right to investigate operators of cryptocurrency-related businesses. South KoreaCentre base, the country’s financial regulator, the Financial Services Commission ( FSC ) continues to maintain its competitive status with With this chain of events, the final word in regulating the digital asset industry remains with the FSC. In addition, the Central Bank of South Korea, from stablecoinsby voicing its concerns about the financial risks arising from crypto exchanges. can request transaction datastated.
Financial Mobility Continues in South Korea
Bank of Korea’s right to request data from digital currency operators was approved last week by officials of the National Assembly’s Political Affairs Committee. FSCon the other hand, will announce its official stance on these events at a subcommittee meeting on April 25.
According to the report, the meeting will speed up the enactment of South Korea’s virtual presence laws. country’s crypto regulations Crypto assets the lawDemocratic Party MP Kim Han-gyu, who proposed the proposal, stated his views on the subject and said: “The Financial Services Commission acknowledges that it is necessary for the Bank of Korea to have the right to request data, but denies it. Include this in the invoice as well.”
