South Korean legislature considering new licensing system for crypto

Cointelegraph

Published May 18, 2022 01:55AM ET

Updated May 18, 2022 03:40AM ET

A report commissioned by South Korea’s federal government recommends the domestic crypto industry adopt a licensing system for exchanges and token issuers as a way of protecting investors.

The report issued by the Financial Services Commission (FSC) to the National Assembly, the country’s legislature, also calls for new regulations to mitigate insider trading, pump-and-dump schemes and wash trading.

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