Some experts raise concerns that stringent regulations could prove too challenging for local blockchain enterprises
South Korea's Financial Services Commission (FSC) introduced new legislation last week to bolster state-led oversight of the local cryptocurrency sector and enhance user protection despite concerns among industry leaders.
While South Korea's burgeoning cryptocurrency market attracts increasing interest from global blockchain enterprises, recent high-profile incidents such as the collapse of Terra — a South Korean-led blockchain platform — point to the continued lack of centralized measures to safeguard the users' assets.
South Korea's Financial Services Commission (FSC) introduced new legislation last week to bolster state-led oversight of the local cryptocurrency sector and enhance user protection despite concerns among industry leaders.
While South Korea's burgeoning cryptocurrency market attracts increasing interest from global blockchain enterprises, recent high-profile incidents such as the collapse of Terra — a South Korean-led blockchain platform — point to the continued lack of centralized measures to safeguard the users' assets.
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