South Korea considers pre-emptive crypto account freezes, report says

The proposal highlights South Korea’s push to align crypto oversight with securities markets, raising stakes for exchanges and traders alike.

South Korea’s financial authorities are reportedly weighing whether to allow regulators to preemptively freeze crypto accounts suspected of price manipulation.

The Financial Services Commission (FSC) is reviewing the introduction of a payment suspension system that would block transactions before suspects launder potentially illicit gains, local outlet Newsis reported Tuesday.

The measure would mirror tools already used in the country’s stock market, where authorities can freeze accounts suspected of manipulation before profits are cashed out.

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