2024.01.16
FSS Launches Virtual Asset Oversight Bureau to Regulate and Investigate Cryptocurrencies
The Financial Supervisory Service has initiated the Virtual Asset Supervision and Investigation Bureau, comprising 33 members with expertise in IT, law, and accounting. In response to volatile virtual asset markets, particularly following the approval of a BTC spot ETF, the bureau aims to address regulatory gaps. It will create a regulatory roadmap, self-inspection checklist, and enhance information disclosure for virtual asset operators before the Virtual Asset User Protection Act takes effect in July. The bureau will establish a system for monitoring unfair transactions and strengthen surveillance mechanisms to monitor abnormal transactions on virtual asset exchanges.
Visit our official English blog to read more about "FSS Launches Virtual Asset Oversight Bureau to Regulate and Investigate Cryptocurrencies"
