South Korean financial regulators plan to establish a new organization to investigate price manipulation in the virtual asset market

ChainCatcher news, according to Edaily, the Financial Supervisory Service of South Korea is seeking to establish a new organization dedicated to the supervision, inspection, and investigation of virtual assets. The newly formed investigation team will have the authority to investigate "market manipulation" of virtual assets. In addition to inspecting virtual asset operators, starting from July next year, there will also be a serious investigation into improper trading behaviors such as market manipulation and the use of undisclosed information. The scale of the newly established department is expected to be determined next month after the government finalizes the budget management guidelines for public enterprises and quasi-government organizations.