South Korean regulator demands that crypto exchanges begin preventing their staff from insider trading
According to 8BTCnews, the South Korean Financial Services Commission (FSC) has asked cryptocurrency exchanges and other crypto-related service providers to prevent their employees from trading on the platform.
South Korean watchdog demands crypto exchanges to ban staff from trading
Specifically, the FSC requires platforms to establish internal controls to prevent employees from inside trading and to do so within a month from now. If this requirement is not met within the time limit, exchanges may be suspended and face fines of up to $85,000.
According to the explanation provided, this request by the regulator is based on rules regarding conflicts of interest that the government adopted on September 28. The purpose is to help users not lose money and improve the level of transparency.
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