According to PANews, Lee Bok-hyun, chairman of the Financial Services Commission (FSS) of South Korea, announced at a meeting with cryptocurrency industry leaders that strict regulatory measures will be taken on the virtual asset market. The FSS will closely monitor the volatility of newly listed tokens, crack down on the spread of unconfirmed rumors, and adopt a zero-tolerance policy for unfair trading practices.
Lee Bok-hyun stressed the need to resolve regulatory uncertainty and build market trust, and will closely follow international regulatory trends and work with other agencies to develop future regulations. He stressed the importance of quickly implementing industry suggestions, such as issuing real-name bank accounts for businesses, to enhance the global competitiveness of South Korea's cryptocurrency business. The financial authorities plan to incorporate industry feedback into their ongoing regulation of the cryptocurrency industry, aiming to promote a stable market environment.