South Korea’s top financial regulator has urged lawmakers to pass the country’s first crypto bill quickly, citing the urgent need from rising incidents at crypto exchanges. There are currently several crypto-related laws pending at the National Assembly.
Crypto Law Urgently Needed
South Korea’s top financial regulator, the Financial Services Commission (FSC), has urged lawmakers to “pass the country’s first cryptocurrency bill quickly,” Bloomberg reported this week. According to the agency, “Korea urgently needs crypto laws as thefts rise,” the publication conveyed, adding that “local exchanges are rife with security flaws and money laundering risks.”