According to BlockBeats, on July 4, the Financial Supervisory Service of South Korea announced today that it has cooperated with local exchanges to develop a 24-hour monitoring system to screen any suspicious activities in the cryptocurrency market.
The new system will go live on July 19, the same day that South Korea’s first regulatory framework for cryptocurrency investor protection takes effect. The Financial Supervisory Service said it had developed a standardized reporting format for transaction data submitted by local trading platforms from January to May this year, and based on this, it established a system to distinguish illegal transactions from other transactions.
