🚀 South Korea's FSS Plans Measures to Curb Cryptocurrency Price Volatility
#SouthKorea #FSS #Cryptocurrency #PriceVolatility #MOVEtoken #CryptoRegulation #DAXA #TaskForce #SelfRegulation
According to PANews, South Korea's Financial Services Commission (FSS) is set to introduce new measures aimed at preventing significant price fluctuations of cryptocurrencies after they are listed on exchanges. This decision follows the notable price volatility observed with the Movement (MOVE) token, which was launched in December.
The FSS is collaborating with cryptocurrency exchanges, the Digital Asset Exchange Alliance (DAXA), and external experts to form a dedicated task force. This group is tasked with developing best practices for self-regulation. These measures are intended to address regulatory gaps until the second phase of cryptocurrency legislation is enacted and implemented.#SouthKorea #FSS #Cryptocurrency #PriceVolatility #MOVEtoken #CryptoRegulation #DAXA #TaskForce #SelfRegulation
🚀 South Korea Advances Virtual Asset Disclosure Regulations
#SouthKorea #VirtualAssets #DisclosureRegulations #SelfRegulation #FinancialSupervisoryService #InvestorProtection #MarketDiscipline #RegulatoryFramework #Legislation #CryptoRegulation
According to Odaily, South Korean financial authorities are advancing self-regulatory measures for virtual asset disclosures this year. The second phase of legislation aimed at regulating the disclosure and issuance of virtual assets is currently under discussion. The policy focuses on self-regulation to minimize regulatory gaps. Additionally, the authorities plan to consider international regulatory examples, including those related to the development of the virtual asset industry, to support the formulation of the second phase of the legislation.
The Financial Supervisory Service announced in its 2025 work plan, released on the 10th, that it will establish a self-regulatory mechanism for virtual asset disclosures. The Virtual Asset Act, which took effect in July last year, emphasizes investor protection and prohibits unfair trading practices. The second phase of this act, still under discussion, includes a market discipline system for virtual asset disclosure and issuance.
Financial authorities aim to first establish a self-regulatory mechanism, allowing companies to voluntarily disclose information to prevent investor losses due to regulatory loopholes. They also plan to develop guidelines for sales activities, including advertising and marketing.
The Financial Supervisory Service is actively supporting the second phase of legislation being promoted by the National Assembly and the government. It will study overseas regulatory systems that include innovative content from the virtual asset industry and incorporate these insights into the legislation.#SouthKorea #VirtualAssets #DisclosureRegulations #SelfRegulation #FinancialSupervisoryService #InvestorProtection #MarketDiscipline #RegulatoryFramework #Legislation #CryptoRegulation
🚀 South Korea's FSS Unveils 2025 Plan for Crypto Asset Regulation
#SouthKorea #FSS #CryptoAssets #Regulation #Legislation #SelfRegulation #InformationDisclosure #BusinessPractices #InternationalStandards #Monitoring
According to BlockBeats, the South Korean Financial Supervisory Service (FSS) has announced its 2025 work plan, which includes the introduction of self-regulatory standards for crypto asset information disclosure. This initiative aims to minimize regulatory gaps amid the ongoing development of the second phase of legislation.
The FSS stated that, in addition to establishing self-regulatory disclosure standards, it will also implement guidelines for business practices such as advertising and marketing. The agency is committed to supporting the legislative efforts of the National Assembly and the government in advancing the second phase of legislation. Furthermore, the FSS plans to study international regulatory frameworks for crypto asset innovation to provide legislative references.
FSS Governor Lee Bok-hyun emphasized the importance of supporting the establishment of corporate real-name accounts and enhancing the second phase of legislation to align with international standards. Additionally, the FSS will develop the second phase of its "Crypto Asset Investigation System" to strengthen monitoring of crypto asset prices and trading volumes.#SouthKorea #FSS #CryptoAssets #Regulation #Legislation #SelfRegulation #InformationDisclosure #BusinessPractices #InternationalStandards #Monitoring
🚀 Hong Kong's Virtual Asset Regulation Roadmap Announced
#HongKong #VirtualAssets #Regulation #ASPIRe #SecuritiesAndFuturesCommission #RegulatorySandbox #Innovation #SystemicRisk #CrossBorderRegulation #OnChainCompliance #NegativeListManagement #SelfRegulation
According to PANews, the Hong Kong Computer Society has highlighted the release of the ASPI-Re virtual asset regulation roadmap by the Hong Kong Securities and Futures Commission. The roadmap aims to balance innovation tolerance with systemic risk management.
The proposed measures include establishing a Regulatory Sandbox 2.0 to test new governance tools, such as DAO voting for regulatory participation. Additionally, the roadmap suggests promoting cross-border regulatory alliances to develop on-chain compliance protocols, which could reduce operational costs for businesses operating internationally.
Furthermore, the introduction of a negative list management model is proposed. This model would clearly prohibit certain activities, such as anonymous coin mixing, while allowing the industry to self-regulate based on risk principles in other areas.#HongKong #VirtualAssets #Regulation #ASPIRe #SecuritiesAndFuturesCommission #RegulatorySandbox #Innovation #SystemicRisk #CrossBorderRegulation #OnChainCompliance #NegativeListManagement #SelfRegulation