🔥 South Korea tightens crypto oversight after the Bithumb incident 🔥

💥 Following the serious incident at Bithumb, South Korean regulators have signaled a tougher stance on the cryptocurrency market:

✨ FSS intensifies investigation into price manipulation: targeting whales, pump–dump schemes, “gating” when exchanges halt deposits/withdrawals, high-frequency trading via APIs, and fake news on social media.

✨ Enhancing automated monitoring & AI: detecting unusual fluctuations in short time frames, pinpointing groups of accounts involved in manipulation.

✨ Increased regulatory pressure following the erroneous transfer of ~620,000 BTC (~44 billion USD) during the Random Box event, causing significant fluctuations in the BTC/KRW price on exchanges.

✨ Industry-wide review: FSC holds urgent meetings with FSS & KoFIU, checks the internal control systems of exchanges; monitors token fluctuations during exchange maintenance.

✨ Preparing the Digital Asset Basic Act (phase 2): standards for token information disclosure, listing criteria, VASP & stablecoin licensing; expected to be completed by Q1/2026.

🛡 Clear message: protect investors, reduce manipulation, raise operational standards for exchanges in the coming period.