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South Korean regulator eyes new crypto regulations targeting token issuers

The Financial Services Commission (FSC) released a report that recommended a new licensing system for token issuers and exchanges to enhance investor protection.

Image by: Wikimedia Commons

Wed, 18 May 2022, 14:10 pm UTC

South Korea’s crypto industry players could be facing stricter regulations ahead. The Financial Services Commission (FSC) recently released a report that recommended a new licensing system for token issuers and exchanges to enhance investor protection.

The FSC recently submitted a report titled “The Comparative Analysis of the Virtual Property Industry Act” to the National Assembly. The report, which was commissioned by South Korea’s federal government, is recommending new regulations aimed at curbing insider trading, wash trading, and pump and dump schemes, according to Cointelegraph.

The new regulations in FSC’s report would be stricter. For instance, entities that fail to comply with them would face harsher penalties compared to those contained in the Capital Markets Act currently governing the country’s crypto industry.

Coin issuers, such as crypto exchanges and companies engaged in initial coin offerings (ICO), would also be subject to a new licensing system as recommended in FCS’s report. Based on the risks involved in such offerings, the regulator also recommended varying degrees of licenses for issuers.

The recommendation of a robust licensing system for token issuers came in the wake of the collapse of the $40 billion Terra ecosystem as the price of the UST stablecoin fell from $1 to below 20 cents and LUNA’s price dropped from $80 to below 2 cents. With the recent fall of the Terra project, the South Korean regulator is understandably wary of new projects and considers the new licensing system to be the “most urgently needed protection” in the market today.

The FSC also recommended one regulation that will require coin issuers the submission of a white paper. The paper must contain important details about the projects such as the company’s officers, how the funds raised from the ICO will be used, and the identified risks associated with the project. Proposed changes must be reflected in the white paper at least seven days before they take effect. Foreign firms headquartered abroad won’t be exempted from this whiter paper requirement if they want their tokens traded on South Korean exchanges.

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  • 2022.05.26 21:46:46
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I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.([email protected]) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

You can also contact them for the service below

* Western Union/MoneyGram Transfer Hack

* Bank Transfer Hack

* PayPal / Skrill Transfer Hack

* Crypto Mining Hack

* CashApp Transfer Hack

Email: [email protected]

Text & Call or WhatsApp: +18033921735

Visit: https://darkwebcycberhackers.com
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  • joejessthwaite
  • 2022.05.26 10:56:33
I love playing the Lottery and I buy tickets every 2 weeks after I get paid. I never wanted to get greedy but I did want enough to live more comfortably. Generally, my luck is pretty terrible. I took a chance when I found a website called [ amberlottotemple.com ] that offers spells to help people. It was the best £415 Pounds I have ever spent! I had to save up for a couple of weeks to be able to afford the spell. I had the spell targeted towards the National Lottery. I heed to DR Amber instructions to buy the ticket after 3days and have faith that I would be the winner. I kept my faith very strong just as DR Amber told me to do. The next morning I got up and saw an email from the National Lottery saying, "Good news, you've won a prize". Today my wife and I are proud winners of £184,262,899.10 Million Pounds. We are here to Appreciate the good deeds of DR Amber. You can reach out to him by Email____ [email protected]
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  • Blessed
  • 2022.05.25 20:52:09
Are you looking for a profitable investment where you can start with a little amount and earn a reasonable profit within a short period of time?. I never believed in any online investment because I was scared and never wanted to be cheated, until I saw a review about Mr Pablo Martinez. He's a Forex/Crypto trading account manager who can help you manage your trading account with his trading strategies and winning signals. I started with an investment of $500 and earned a profit of $6,650 within 7 days. I now earn quite a lot on a weekly basis and I owe everything to Mr Pablo Martinez. Thank you Mr Pablo Martinez for turning my financial life around, and I will keep recommending your good works. If you want to invest in Stock, Binary options and Forex/Crypto trading, kindly contact Mr Pablo Martinez and you'll be glad you did. There are no hidden charges.

Contact Mr Pablo Martinez through

E-mail: [email protected]

WhatsApp: +44 7520 636249

Facebook: https://www.facebook.com/PM-Fast-Trade-104912912155335/
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  • Warrenpat1
  • 2022.05.25 13:31:33
Yes it is possible to retrieve your stolen bitcoins. I never believed in bitcoin recovery because I was made to understand that it is not possible. But sometime in February I fell for a binary options scam which promised a higher return and I lost close to $55,000. I read an article on here (reddit) as regards to a recovery expert and genius so I reached out to GHOSTCHAMPIONWIZARD, and share my problem with him how a fake binary scammer have made me lose money to my surprise he was so nice and explained to me what we should do and i thought he was just given me hope like other fake hacker but rather he was serious with the services of recovering my funds from this binary but to the best he did all thing possible and I got all bitcoins recovered within 42hours frame. I don’t know if I’m allowed to share the links here but you can contact him if you are finding it very difficult to withdraw your funds from all this crypto investment scheme to recover your funds and your lost Btc or crypto currency . CONTACT them on their website for quick reply : https://championhacker0.wixsite.com
Email : [email protected]
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  • Warrenpat1
  • 2022.05.25 13:30:29
Yes it is possible to retrieve your stolen bitcoins. I never believed in bitcoin recovery because I was made to understand that it is not possible. But sometime in February I fell for a binary options scam which promised a higher return and I lost close to $55,000. I read an article on here (reddit) as regards to a recovery expert and genius so I reached out to GHOSTCHAMPIONWIZARD, and share my problem with him how a fake binary scammer have made me lose money to my surprise he was so nice and explained to me what we should do and i thought he was just given me hope like other fake hacker but rather he was serious with the services of recovering my funds from this binary but to the best he did all thing possible and I got all bitcoins recovered within 42hours frame. I don’t know if I’m allowed to share the links here but you can contact him if you are finding it very difficult to withdraw your funds from all this crypto investment scheme to recover your funds and your lost Btc or crypto currency . CONTACT them on their website for quick reply : https://championhacker0.wixsite.com
Email : [email protected]
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  • JohnReed
  • 2022.05.25 00:20:17
Are cryptocurrency wallets safe
Cryptocurrency holds value like any monetary asset, and it’s essential to protect it. Many people keep their crypto in digital wallets on a trading platform, like Coinbase or Robinhood. You can also hold your crypto on hardware wallets if you use other exchanges. A hardware wallet is an offline device that stores public and private keys. Since they are offline, a hardware wallet isn’t vulnerable to online attacks that steal or alter digital information. In other words, only someone with physical access to your hardware wallet can steal or change its data. Online hackers won’t be able to do so. So it’s one way to avoid your crypto assets from being stolen. If you have a hardware wallet, you should be sure never to lose your password. Losing the password to your wallet would lose you access to the assets in it, but you can recovery your stolen hardware wallet or online crpto account by conculting INTELLIGENT ALPHA INC (Website; www.intelalpha.com)
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  • Nath
  • 2022.05.23 22:41:09
I'm so happy to share this with you that can read / see this now. When I started trading binary and forex a few months ago, I really didn't have the necessary tools to trade and I lost a lot until I met Pablo Martinez who taught me all about market psychology as he managed my account for me. Today I am grateful to him for his great offer and help because it really changed my financial situation with an investment capital of $1500 and now I'm earning around $35,500 - $30,000 profits per week. Here is his WhatsApp no: +44 7520 636249 or his email address: [email protected]
Https://www.facebook.com/PM-Fast-Trade-104912912155335/
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  • Willy01
  • 2022.05.23 12:19:57
I strongly recommend Cyber King Solutions . They helped me out so much after already paying a self-acclaim credit expert who basically just took my money and did nothing for almost a year, I found them on a credit forum and they immediately showed results and even guided me on what my best solution for my trade in for a new vehicle would be with a lower approximate % and not to mention how well they inform you and explain to you everything that's going on with your credit. My score has been raised to 780s in less than 19days and all derogatory items are gone. They're currently working on my wife's report. You can reach out to them via cyberkingsolutions at gmail dot com. You can thank me later.
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  • BarbaraEckman
  • 2022.05.23 06:57:47
BITCOIN RECOVERY IS VERY MUCH REAL, AM A LIVING TESTIMONY!!!!

I was actually fooled and scammed over ( $753,000 ) by someone I trusted with my funds through a transaction we did and I feel so disappointed and hurt knowing that someone can steal from you without remorse after trusting them, so I started searching for help legally to recover my stolen funds and came across a lot of Testimonials about WIZARD GARRY, an agent who helps in recovery lost funds, which I can tell has helped so many people who had contacted him regarding such issues and without a questionable doubt their funds was returned back to their wallet in a very short space of time, it took the expert 48hours to help me recover my funds and the best part of it all was that the scammers was actually located and arrested by local authorities in his region which was very relieving. Hope this helps as many people who have lost their hard earn money to scammers out of trust, you can reach him through the link below for help to recover your scammed funds and thank me later.
Email Address: [email protected]
Or WhatsApp: +15163299814... website: https://wzardgarryspeedhac.wixsite.com/my-site-1
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  • KatieRobles
  • 2022.05.23 04:48:52
Just this past month, I was in need to get my credit fixed and straight as I needed to get a home for my family, I”m a mom to 2kids. I made a thorough research of a credit expert to help improve my credit, then lucky enough I came across this private hacker ( HackNet ), he is really good at fixing credit, He increased my credit score up to 799 in all 3 bureaus and erased all the negative items impacting my credit in just 7days … just in case you need your credit fixed as well you can contact him through at [email protected] or you can also write him on (646)4502754
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  • GregDalton
  • 2022.05.22 17:41:42
FOR OPTIONS ON HOW
For options on how to get recovery of any funds lost to any of the options below;
1. Binary option scam?
2. Forex trading?
3. Romance scam
4. ICO Scams
5. Online betting scams
6. Bitcoin scam
7. Phishing scam
or any other kind of scam?

If in any case you have lost funds to them or any other. I have a good news for you. Scams Rescue is currently recovering funds for all victims. Service delivery is top notch and second to none. Hurry and contact them on email: [email protected] Whatsapp: +15163299814
website: https://wzardgarryspeedhac.wixsite.com/my-site-1
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  • brianparisi04
  • 2022.05.22 14:37:48
Knowing Dr Amber has been a blessing to me. His spells are incredible with no side effects. I suffered from brain cancer for years with a lot of bills piled up on my neck. I play the lottery hoping that someday I will win big to clear up my debts, live the good life that I've always dreamt of. I was referred to Dr Amber by a friend of mine in South Africa telling me that he can help me win the lottery. I had a chat with Dr Amber about winning the lottery and he was so confident about his work that made me believe in him knowing fully well that he has been helpful to other people. He did a reading for me that made it clear to him that I was going to become a winner after he had prepared the spell for me. He told me the exact ticket to pick and I was declared the winner of ONE MILLION DOLLARS at the "Double Your Money” instant lottery game. I don't know what you seek for but Dr Amber can help you. Email him at ( [email protected] ) to know more or go to : amberlottotemple.com
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  • lisy
  • 2022.05.22 07:56:33
HAVE YOU BEEN SCAMMED OF YOUR COINS AND WANTS TO GET IT RECOVERED BACK???

I invested a total of$95,000.00USD worth of Bitcoin with an online company who does trading and was guaranteed a payout of 25% a week. They ended up shutting down their company website but their website was still running. So I could still see my dashboard at that time and instead of paying weekly they ended up compounding my money. It ended up compounding to$179, 000USD so I requested for a withdrawal which was declined before they shutdown their website, I complained to my colleague at work who directed me about this recovery expert, Mr. Morris Ray, that helped him, I contacted him immediately, what surprised me most, was that I recovered my money that same week. You can contact him on his email at MorrisGray830 @ Gmail . com and on WhatsApp: + 1 (607) 698-0239 and he will assist you on the steps to recover your invested funds.
Just trying to help those who where scammed just the way I was too.
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  • lisy
  • 2022.05.22 07:53:42
HAVE YOU BEEN SCAMMED OF YOUR COINS AND WANTS TO GET IT RECOVERED BACK???

I invested a total of$95,000.00USD worth of Bitcoin with an online company who does trading and was guaranteed a payout of 25% a week. They ended up shutting down their company website but their website was still running. So I could still see my dashboard at that time and instead of paying weekly they ended up compounding my money. It ended up compounding to$179, 000USD so I requested for a withdrawal which was declined before they shutdown their website, I complained to my colleague at work who directed me about this recovery expert, Mr. Morris Ray, that helped him, I contacted him immediately, what surprised me most, was that I recovered my money that same week. You can contact him on his email at MorrisGray830 @ Gmail . com and on WhatsApp: + 1 (607) 698-0239 and he will assist you on the steps to recover your invested funds.
Just trying to help those who where scammed just the way I was too.
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  • Bingerbell89
  • 2022.05.22 04:15:01
Investors gave me and my family a very pleasant experience In owning crypto assets. It was my first time ever owning any crypto currency when I purchased some and got a portfolio at the recommendation of marketplus247 . com, I recommend to all my friends that care to delve into to world of profitable crypto investment.
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  • BarbaraEckman
  • 2022.05.22 01:08:18
I WAS ACTUALLY FOOLED AND SCAMMED ( $753,000 ) by someone I trusted with my funds through a transaction we did and I feel so disappointed and hurt knowing that someone can steal from you without remorse after trusting them, so I started searching for help legally to recover my stolen funds and came across a lot of Testimonials about WIZARD GARRY, an agent who helps in recovery lost funds, which I can tell has helped so many people who had contacted him regarding such issues and without a questionable doubt their funds was returned back to their wallet in a very short space of time, it took the expert 48hours to help me recover my funds and the best part of it all was that the scammers was actually located and arrested by local authorities in his region which was very relieving. Hope this helps as many people who have lost their hard earn money to scammers out of trust, you can reach him through the link below for help to recover your scammed funds and thank me later.
Email Address: [email protected]
Or WhatsApp: +15163299814... website: https://wzardgarryspeedhac.wixsite.com/my-site-1
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  • Randy12451
  • 2022.05.21 06:58:07
BITCOIN RECOVERY IS VERY MUCH REAL, AM A LIVING TESTIMONY!!!!

Have you ever gotten your bitcoins stolen from your wallet or invested in an ICO that turned out to be a scam, you are not alone because this happened to me too. I initially lost $90,000 in just 3 months from Cryptoallday, I contacted the authorities and they referred me to a bitcoin recovery company who helped me recover all my funds within less than 2 days... I`m speaking out to improve our awareness of these cryptocurrency thieves and help you if you have been a victim yourself. Simply send them an email [email protected]
Whatsapp or text: +15163299814, website: https://wzardgarryspeedhac.wixsite.com/my-site-1
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  • Randy12451
  • 2022.05.21 04:22:49
Have you ever gotten your bitcoins stolen from your wallet or invested in an ICO that turned out to be a scam, you are not alone because this happened to me too. I initially lost $90,000 in just 3 months from Cryptoallday, I contacted the authorities and they referred me to a bitcoin recovery company who helped me recover all my funds within less than 2 days... I`m speaking out to improve our awareness of these cryptocurrency thieves and help you if you have been a victim yourself. Simply send them an email [email protected]
Whatsapp or text: +15163299814, website: https://wzardgarryspeedhac.wixsite.com/my-site-1
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  • JENKINSCOOPER
  • 2022.05.20 04:04:30
THIS IS THE BEST THING THAT HAS EVER HAPPENED TO ME
I was scammed of $379,000 worth of bitcoin with a scam forest investment unknowingly then,
I didn’t know what to do.. I felt like committing suicide, but fortunately for me, my friend introduced me to a cyber crime investigator ( Mr Morris Gray )who also helps in recovering lost invested funds, After working with him, to my greatest surprise, in just few days I got all my lost funds back, and he only took just 15% out of the recovered funds, if you have been scammed with fake forex you don’t need to be scared or worried, because you can also reach him on his email: [email protected] gmail .com
He will recover your lost bitcoins back fast and smoothly...
You can WhatsApp him via +1 (607) 698-0239.
And you will be amazed….!!!
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More
  • Bitcoin (btc) $21,300.00 (+0.38%)
  • Ethereum (eth) $1,228.27 (+1.80%)
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  • BNB (bnb) $238.17 (+0.78%)
  • XRP (xrp) $0.366567 (+1.43%)
  • Bitcoin (btc) $21,300.00 (+0.38%)
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