From India to South Korea, crypto exchanges under regulatory lens ...Middle East

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From India to South Korea, crypto exchanges under regulatory lens
Seoul: The financial regulator here said on Tuesday it will soon launch an inspection of virtual asset exchanges to check for any illegal or unfair transactions, as India cracks down on crypto platforms. The planned inspection will be the first of its kind since the country introduced tougher rules against illegal trading of virtual assets in July under the new Virtual Asset Users Protection Act, which enabled maximum punishment of life imprisonment for those who gain more than 5 billion won ($3.7 million) through illegal transactions. The Financial Supervisory Service (FSS) said it will inspect two South Korean won-based cryptocurrency exchanges, considering what it called “unusual cases”

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