[Blockchain Today Reporter Jeong Seung-won] In the future, employees of domestic cryptocurrency exchanges will not be able to trade cryptocurrency through the exchange where they work.
According to the financial authorities on the 6th, the Financial Intelligence Unit (FIU) under the Financial Services Commission held a meeting for cryptocurrency exchanges on the 3rd and said, “In case of violation of these obligations, a fine of not more than 100 million won, a correction order, business suspension, and reporting is canceled. can do,” he explained.
This meeting was held to explain the plan to revise the Enforcement Decree of the Specific Financial Transaction Information Act announced last month. On the 28th of last month, the government announced that it would ban businesses and executives and employees from trading virtual assets on their exchanges in order to prevent bicycling and price manipulation by virtual asset operators.
The FSC plans to revise the enforcement ordinance by September 24, the deadline for reporting existing businesses, and to assign these obligations to businesses whose reports have been accepted in the future.
In addition, it is said that the topic of the meeting was how to handle cryptocurrency issued by cryptocurrency exchanges, etc. The government plans to amend the Enforcement Decree of the Special Provisions Act to ban the direct purchase, exchange, or mediation of virtual assets issued by cryptocurrency exchanges.
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