Express
Korean FSC Says They Are Not Responsible For The Cryptocurrency Stolen By Hackers
Summary: In response to a written inquiry from the Political Affairs Committee of the National Assembly, the Financial Services Commission of South Korea (FSC) stated that they are not responsible for the cryptocurrency stolen by hackers backed by the North Korean regime on crypto exchange platforms. According to the report, the regulator argued that crypto exchanges ...
In response to a written inquiry from the Political Affairs Committee of the National Assembly, the Financial Services Commission of South Korea (FSC) stated that they are not responsible for the cryptocurrency stolen by hackers backed by the North Korean regime on crypto exchange platforms.
According to the report, the regulator argued that crypto exchanges do not fall under their jurisdiction, but did not provide more details on the matter. They handed over responsibility to the South Korean Ministry of Foreign Affairs and the Korean Communications Commission (KCC). However, both of them believe that FSC is still responsible for any losses suffered by crypto companies because they are financial related. The two agencies pointed out that the FSC's job is "responsible for the management and supervision of virtual asset providers."
By Amy Liu
Tags: Cryptocurrency,FSC,Korean,Regulation
Link: Korean FSC Says They Are Not Responsible For The Cryptocurrency Stolen By Hackers [Copy]
