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2024.07.05

New Regulations Enforced to Combat Unfair Trading in Virtual Asset Market

Unfair trading in the virtual asset market will be swiftly detected through continuous monitoring of transactions on exchanges. Starting on the 19th, the 'Virtual Asset User Protection Act' mandates exchanges to monitor for abnormal transactions and prohibits unfair trading practices. Exchanges will analyze trading data, account details, and deposit/withdrawal information to identify suspicious activities, reporting them promptly to authorities. Unfair practices include insider trading, market manipulation, and fraudulent transactions, such as fake market activity and false press releases. The Financial Supervisory Service has provided 'Guidelines for Monitoring Abnormal Transactions' to help exchanges comply with these new regulations.

 

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