South Korean regulator confirms KDIC can request crypto transaction data

South Korea's Financial Services Commission (FSC) has issued a legal interpretation allowing the Korea Deposit Insurance Corporation (KDIC) to request transaction histories from crypto exchanges to track hidden assets, Digital Asset reported. The interpretation pertains to an amendment to the Depositor Protection Act, which includes virtual asset service providers among the entities from which the KDIC can demand data. The FSC determined that excluding transaction and transfer records would make it difficult to trace concealed assets, thereby undermining the amendment's objective.