Korean Financial Commission: Market volatility intensifies, will closely monitor abnormal cryptocurrency transactions

ChainCatcher news, the chairman of the Financial Services Commission of Korea, Kim Byung-hwan, recently stated: "The prices of virtual assets have surged significantly in the short term, and the volatility of the market itself is also very high, so the government needs to closely monitor and focus on whether there are any abnormal transactions in virtual assets." The Financial Supervisory Service plans to check the operational status of the abnormal transaction monitoring system for virtual asset exchanges in the near future.

Regarding the fact that the trading volume of the virtual asset market has exceeded that of the stock market, he stated: "If we look at the two markets, funds should flow into the stock market."

He added: "We all recognize that the stock market is very important for the healthy cycle of our economy, but due to doubts about the positive impact of virtual assets on the real economy, it is necessary to study the situation where their trading volume remains high."