FSS takes the responsibility for crypto in Korea

After a long discussion, it’s the Financial Supervisory Service has taken the charge to look after the cryptocurrency transaction in South Korea. The decision has been taken and published last Friday by the executive power in Seoul. For the past couple of months, the South Korean government has been tackling various issues related to crypto exchange. 30 such phishing websites have been banned for their forgery and asking for details about the transaction from the investors. To get *[cryptocurrency exchange] under control, the responsibility has been offered to FSS to monitor all crypto-related transactions in South Korea.

Apart from this, the government is also confirming plans to impose a tax on crypto-related gains in near future. This would make things legal as well as reliable. Adding to this the ministers have also stated that there will be a prohibition for the crypto operators and brokers to have more transparency among the investors.