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Korean Financial Commission: Market volatility intensifies, will closely monitor abnormal cryptocurrency transactions

Korean Financial Commission: Market volatility intensifies, will closely monitor abnormal cryptocurrency transactions

Bitget2024/11/25 07:06

The Chairman of the South Korean Financial Services Commission, Jin Binghuan, recently stated: "The price of virtual assets has risen sharply in the short term and the market itself is highly volatile. Therefore, the government needs to closely monitor it, focusing on whether there are abnormal transactions of virtual assets." The Financial Supervisory Service plans to inspect the operation status of abnormal transaction monitoring systems operated by virtual asset exchanges.

Regarding the issue that trading volume in the virtual asset market exceeds stock market size, he said: "If you look at both markets, funds should flow into stocks."

He added: "We all recognize that a healthy cycle in our country's stock market is very important. However, due to doubts about positive impacts from virtual assets on real economy exist; therefore it's necessary to study why its trading volume remains high." (Nocutnews)

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