South Korea's Financial Services Commission: Market volatility has increased and will closely monitor abnormal cryptocurrency transactions

Kim Byung-hwan, chairman of the Financial Services Commission of South Korea, recently said: "The price of virtual assets has risen sharply in a short period of time, and the market itself is also very volatile, so the government needs to monitor closely and focus on whether there are abnormal transactions in virtual assets." The Financial Supervisory Service plans to inspect the operation of the abnormal transaction monitoring system operated by virtual asset exchanges in the near future. Regarding the fact that the transaction volume of the virtual asset market exceeds the size of the stock market, he said: "If you look at the two markets, funds should flow to the stock market." He added: "We all recognize that the stock market is very important for the virtuous cycle of our country's economy, but because people have doubts about the positive impact of virtual assets on the real economy, it is necessary to study the situation where its transaction volume continues to be high." (Nocutnews)