Wu said that according to Bloomberg, South Korean regulators are increasing pressure on local cryptocurrency exchanges to root out suspicious transactions, part of an effort to strengthen investor protection under a new digital asset law that takes effect later this month. South Korea's Financial Supervisory Service (FSS) said in a statement on Thursday that it is establishing a system to monitor abnormal crypto trading activities. Exchanges are advised to provide data and information to the system to ensure compliance with the legislation that will take effect on July 19. Red flags include trading volumes and prices outside normal ranges, excessive trading volume, and abnormally slow execution speeds.