First introduced in June 2022, the crypto bill in South Korea is expected to include various regulations for the crypto industry in the country
The crypto industry in South Korea is expected to benefit from an upcoming crypto bill, which passed its first phase of review in the National Assembly. The crypto bill would empower the Financial Services Commission to regulate the crypto industry and be the reporting authority for all crypto firms.
Activities like halting user withdrawals would have to be reported to the Financial Services Commission once the bill is enacted into law.