• December 5, 2023


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South Korea is Developing a Service to Control Cryptocurrencies

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The South Korean Ministry of Justice will release in the first half of the year a service to control digital currency transactions.

According to the authorities of the country, the system will become one of the points of the program to increase the transparency of the blockchain industry in South Korea.

The Financial Services Commission and the Financial Supervision Service will be responsible for monitoring the situation in the crypto sphere and regulating the industry.

According to the Ministry of Justice, it intends to develop a service that will effectively monitor the movement of capital in cryptocurrencies on the domestic market, as well as identify and stop suspicious activity of investors.