The Financial Services Commission (FSC) of South Korea is mandating that the results of supervision and inspections be disclosed publicly. The rules revision applies to crypto and virtual asset inspections as well.
The country’s authorities have increasingly scrutinized the crypto market since the Terra implosion last year.
South Korea Crypto Inspections a Key Talking Point
The reports speak of an announcement by the Financial Services Commission to change the “inspection and sanctions regulations on reporting specific financial transaction information.” The related processes include not just virtual asset operators but financial companies, post offices, and casino operators as well.
The revision requires disclosing major details on the homepage. Completing this action is necessary within ten days of the final notification of inspection results. It also applies to the action taken by the FIU or others.
The agency also…
