EddieJayonCrypto

 19 Dec 23

tl;dr

South Korea’s Financial Services Commission (FSC) has introduced new regulations to require interest payments on crypto deposits, enhance security measures, strengthen insider trading controls, and establish a robust and secure environment for digital asset investors. The FSC’s comprehensive regulat...

South Korea’s Financial Services Commission (FSC) has introduced new regulations to require interest payments on crypto deposits, enhance security measures, strengthen insider trading controls, and establish a robust and secure environment for digital asset investors.


The FSC's latest regulatory measures mandate that investors in crypto assets are entitled to interest payments on their deposits, providing added incentives for individuals to engage with the digital asset market. Furthermore, crypto asset operators must store over 80% of users’ virtual assets in cold wallets, significantly bolstering security protocols to protect user funds. Strengthening controls against insider trading and prohibiting the blocking of users' deposits and withdrawals in principle further solidify the FSC’s commitment to fostering trust and responsible growth in the cryptocurrency market.


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