Anask559 steemit name South Korea’s Financial Watchdog Urges Lawmakers to Move Forward With Crypto Bill

South Korea watchdog the Financial Service Commission (FSC) has urged lawmakers to hasten their approval of the country’s first cryptocurrency bill, Bloomberg reports July 28.

Hong Seong-ki, head of the FSC’s virtual currency response team, has reportedly warned of the security and money laundering risks courted by the country’s domestic crypto exchanges. Bloomberg cites Seong-ki as saying that:

“While crypto markets have seen rapid growth, such trading platforms don’t seem to be well-enough prepared in terms of security. We’re trying to legislate the most urgent and important things first, aiming for money-laundering prevention [AML] and investor protection. The bill should be passed as soon as possible