South Korea will systematically assess cryptocurrency risks using new monitoring tools
Join Our Telegram channel to stay up to date on breaking news coverage The financial watchdog in South Korea is creating new instruments to continuously monitor crypto threats. While the crypto market’s influence on the conventional financial system is presently minimal, the regulator cautioned that in the future, such threats to the nation’s financial stability could rise significantly. Developing Crypto Monitoring Tools is a Korean Regulator FSS Governor Lee Bok-hyun reportedly disclosed Monday at a conference on the interconnectedness between the crypto market and the traditional financial market that the Financial Supervisory Service (FSS) of South Korea plans to develop crypto monitoring tools and regularly inspect the risks associated with crypto assets. The Financial Supervisory Service is preparing a number of efforts for the risk management of the virtual asset market this year, he was reported as saying by the local media. Regarding the crypto monitor...