2023.11.29
FSS Establishes New Bureaus to Regulate Cryptocurrency Market Ahead of Regulatory Changes
The Financial Supervisory Service (FSS) is setting up two new bureaus—the 'Virtual Asset Supervision Bureau' and the 'Virtual Asset Investigation Bureau'—to regulate the cryptocurrency market. This action precedes the introduction of the 'Virtual Asset User Protection Act' next July. The Supervision Bureau will oversee operators and market stability, while the Investigation Bureau will crack down on unfair practices. This reorganization strengthens their oversight role compared to the previous responsibility held by the Financial Intelligence Unit.
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