The South Korean Financial Services Commission plans to monitor users holding virtual assets worth over $70,000

ChainCatcher news, according to a report cited by News1, financial regulatory authorities believe it is necessary to assess the tradability of cryptocurrencies, especially since stablecoins commonly used by the public are more likely to be used as tools for crime.

In addition, the Financial Services Commission of South Korea believes it is necessary to monitor customers who deposit large amounts of virtual assets. This can be specifically categorized based on the amount of virtual assets held by each customer multiplied by the closing price of that virtual asset at the end of the previous quarter, classified into ranges of 100 million to 300 million KRW (approximately 70,000 to 210,000 USD), 300 million to 500 million KRW, and over 500 million KRW, to monitor the scale and trend of changes in the virtual assets held by customers. (Source link)