According to PANews, the South Korean Financial Services Commission (FSS) is intensifying its investigation into potential price manipulation in the cryptocurrency market, extending its scrutiny to individual investors. This development comes six months after the implementation of the country's Virtual Asset User Protection Act. Recently, an individual investor has come under investigation by the FSS for suspected price manipulation due to frequent short-term trading activities on a major exchange.
Although these transactions are part of regular day trading activities, their suspicious nature has prompted the FSS to demand evidence from the investor to prove there was no intent to manipulate the market. This move by the FSS is part of a broader effort to closely monitor trading patterns and volumes, especially in light of the recent surge in cryptocurrency prices. The regulatory body aims to identify any potential signs of price manipulation as it continues to enforce the new legislation designed to protect virtual asset users.