South Korea says API crypto trading now makes up 30% of market: Report

South Korea’s FSS said API trading now makes up 30% of crypto turnover and warned it will crack down on abusive automated trading patterns, local media reported Monday.

South Korea’s Financial Supervisory Service (FSS) said Monday that API-based trading now accounts for about 30% of crypto buy-and-sell turnover, warning that some traders are using automated tools to inflate volumes and manipulate prices.

According to reports from Yonhap News Agency and Maeil Business Newspaper, the regulator warned that some traders are using automated tools to inflate volumes and manipulate prices, citing cases involving repeated small trades, spoofed orders and coordinated activity across multiple accounts. 

The FSS said it will launch targeted investigations into accounts suspected of using APIs for excessive or abnormal trading patterns, signaling closer scrutiny of automated trading activity in the market. 

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