South Korean regulators to implement new measures to prevent sharp price fluctuations after cryptocurrencies go online
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Golden Finance reported that the Korea Financial Services Regulatory Authority (FSS) plans to implement new measures to prevent sharp fluctuations in prices of cryptocurrencies after they are listed on the exchange. This decision came after observing significant price fluctuations in the Movement (MOVE) tokens launched in December.
The Korea Financial Services Regulatory Authority (FSS) has cooperated with crypto exchanges, the Digital Asset Exchange Alliance (DAXA) and external experts to establish a special working group responsible for formulating best practices for self-regulatory supervision. These measures are intended to fill regulatory gaps until the second phase of the cryptocurrency bill is enacted and implemented.