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South Korean Financial Regulator Meets Crypto Exchange Heads, Urges Stronger Controls
Lee Chan-jin, governor of the Financial Supervisory Service, met with 15 virtual asset exchange operators on July 2. He called for improved internal controls, monitoring systems and IT infrastructure to address a market slump caused by recent accidents.
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Lee Chan-jin, governor of South Korea's Financial Supervisory Service, met with the heads of Dunamu, Coinone and 13 other virtual asset exchange operators on July 2 and urged them to strengthen internal control systems. Yonhap reported that Lee said the domestic virtual asset market has been in a slump in the first half of the year due to a series of accidents.
He stated that operators must improve controls to regain market confidence and move toward an established market.
Lee also called for enhanced monitoring systems and information technology infrastructure. These steps, he said, would help detect distortions, increase market fairness and better protect customers.
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