The Bank of Korea has the right to investigate virtual asset businesses

The Bank of Korea has the right to investigate virtual asset businesses



On April 20, local media outlet The Korea Herald reported the Bank of Korea (BoK) will be given the right to investigate operators of cryptocurrency-related businesses.



While discussions on virtual asset-related laws are currently underway in the National Assembly, it seems that the Bank of Korea, the central bank of Korea, will be given the right to investigate virtual asset operators.



In the meantime, the Bank of Korea has been competing with the Financial Services Commission over this, but it was recently confirmed that the Financial Services Commission expressed its position to the National Assembly that it would accept it.



The Bank of Korea expressed concerns over financial stability risks from stablecoins and will now be able to request transaction data from crypto exchanges.



The Bank of Korea has stated


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#Cryptocurrency, #Cryptonewstoday, #News, #Regulations, #SEC, #SouthKorea

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