According to PANews, South Korea's Financial Services Commission (FSS) Chairman Lee Bok-hyun announced during a meeting with cryptocurrency industry leaders that the country will enforce stringent regulatory measures on the virtual asset market. The FSS plans to closely monitor the volatility of newly listed tokens, combat the spread of unverified rumors, and adopt a zero-tolerance policy towards unfair trading practices.

Lee Bok-hyun emphasized the need to address regulatory uncertainties and build market trust. To achieve this, the FSS will align with international regulatory trends and collaborate with other institutions to formulate future regulations. He highlighted the importance of swiftly implementing industry recommendations, such as issuing real-name bank accounts for businesses, to enhance the global competitiveness of South Korea's cryptocurrency sector. Financial authorities intend to incorporate industry feedback into their ongoing regulatory efforts and aim to promote a stable market environment.