South Korea to let regulators freeze accounts suspected of crypto manipulation

South Korea’s Financial Services Commission (FSC) plans to introduce a system to suspend payments from accounts suspected of virtual asset price manipulation, News1 reported. The measure, which will be included in the country's upcoming second-phase virtual asset legislation, would allow financial authorities to freeze suspicious accounts before law enforcement agencies take action. The system will target accounts believed to be used for market manipulation, with the FSC coordinating with financial companies and exchanges to lock the funds.