FSS governor agrees crypto exchanges need bank-level regulation

Lee Chan-jin, Governor of South Korea's Financial Supervisory Service (FSS), stated that he personally agrees that cryptocurrency exchanges should be regulated at the same level as financial companies. According to Money Today, he made the comments while attending an emergency hearing of the National Assembly's National Policy Committee regarding an erroneous payment incident at the Bithumb exchange. Lee noted that there are institutional limits to the operation of self-regulation. The committee has been holding a plenary session since 1:00 a.m. UTC today to address the matter.