South Korean regulators launch task force to bolster crypto exchange controls

An emergency response team composed of South Korea’s Financial Services Commission (FSC), Financial Intelligence Unit (FIU), Financial Supervisory Service (FSS), and the Digital Asset eXchange Alliance (DAXA) has launched a task force for advancing internal controls, Etoday reported. The move follows a recent incident involving the erroneous payment of virtual assets. The task force is set to begin developing concrete measures to enhance self-regulation and strengthen implementation across virtual asset exchanges.