South Korea will investigate platform coins such as Paycoin and Wemix to prevent a recurrence of the "FTX incident."

ChainCatcher news, the Financial Intelligence Unit (FIU) under the Financial Services Commission of South Korea will conduct a comprehensive investigation into the risks associated with self-issued tokens (platform coins) for 40 virtual asset providers that have completed domestic reporting. The aim is to prevent a recurrence of the "FTX incident" by examining the current status of self-issued coins listed on domestic exchanges and the risk management measures of each exchange.

Tokens issued by companies with issuance platforms, such as Danal's Paycoin (PCI) and WEMIX (WEMIX), are expected to be included in the investigation. Financial authorities believe that a regulatory framework for self-issued coins should be established following the FTX bankruptcy. (source link)