Director of the Korea Financial Supervisory Authority: It is necessary to monitor the risk of digital currency transactions by developing global rules

According to the Yonhap News Agency, Yoon Suk-heun, director of the Korea Financial Supervisory Authority (FSS), said that because digital currency transactions are cross-border, difficult to track and risky, a global regulatory system must be established to monitor the risk of digital currency transactions. He also said that South Korea aims to develop the underlying technology of digital currency — blockchain technology, but the speculative trading of digital currency will never be allowed. It is reported that in January this year, South Korea began to implement the digital currency real-name trading system, which is an important measure for the Korean government to crack down on criminal activities such as money laundering of digital currency.

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