Cryptocurrency fraud in south korea

South Korea has been facing the spread of cryptocurrency fraud all over the country. This year alone has recorded a countless number of reports on cryptocurrency fraud and hacks, which could have been avoided with adequate regulation. At the moment, South Korean authorities are looking to establish regulations but honestly, they are taking their time.
It is necessary for South Korean authorities to take action fast and get some regulations established to clean up crypto, minimizing any further damage to the industry.
The Financial Services Commission (FSC), the authority in Korea fighting for regulation, was reported having criticized the government’s law makers in order to speed up the process of establishing these regulations.
“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 and investor protection. The bill should be passed as soon as possible,” said Hong Seong-ki, an official at FSC.!
Plzz be alert....