Sources claim that several mid-sized crypto exchanges in South Korea would not be able to get approval from the FSC.
South Korea’s top financial regulator, the Financial Services Commission, is reportedly planning to shut down a dozen local cryptocurrency exchanges amid fraud allegations.The FSC will suspend operations of at least 11 mid-sized crypto exchanges in South Korea due to alleged illegal activities and fraudulent collective accounts, local news agency The Korea Herald reported Sunday. The publication cited anonymous industry sources claiming that the names of the exchanges were not yet disclosed.The sources argued that the mentioned crypto exchanges will not be able to get approval for operation by the FSC. The report also notes that the authority is planning to implement stricter regulations for smaller crypto exchanges in South Korea.The news on the alleged shutdowns comes amid several smaller South Korean cryp
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