ChainCatcher news, according to Newsis, the head of the Financial Supervisory Service of South Korea, Lee Bok-hyun, stated at the National Assembly's Political Affairs Committee's national inspection meeting that they are investigating abnormal transactions of various cryptocurrencies, including suspicious trading activities of the AVAIL token on the Bithumb exchange. He also mentioned that the financial regulatory authorities are continuously improving the abnormal transaction detection system and handling multiple related investigation cases to enhance market confidence.It is reported that the AVAIL token was listed on Bithumb on July 23, 2024, with an initial price of 236 KRW. Within 15 minutes of its listing, its price surged over 1300%, but it fell back to around 200 KRW in less than 24 hours, raising market concerns about price manipulation.Democratic Party lawmaker Min Byeong-deok pointed out that the AVAIL token incident exposed flaws in Bithumb's abnormal transaction monitoring system. He revealed that Bithumb had stated that only transactions exceeding 5% of the total issuance would be considered abnormal transactions, a standard that clearly failed to effectively prevent such incidents.Director Lee Bok-hyun promised that the Financial Supervisory Service will continue to monitor and investigate various suspicious cryptocurrency trading activities, striving to enhance market transparency and investor protection.Previous news, South Korean lawmakers have requested access to abnormal trading data of AVAIL on Bithumb and are investigating potential price manipulation.

ChainCatcher news, according to Newspim, South Korean financial regulators have suspended the review of the executive change report submitted by Gopax on March 7, which contains information about the appointment of three Binance members as internal directors of Gopax. The industry expects that, due to the U.S. Securities and Exchange Commission's allegations against Binance for violating the Securities Act and its application to freeze assets, South Korean authorities are unlikely to process this change report.In response, relevant personnel from South Korea's financial regulatory agency stated, "The acceptance of the change report is currently under internal review, so we must speak cautiously. However, it is necessary to observe the SEC's movements. Although the Special Financial Transactions Act does not include conflicts of interest for major shareholders, I understand that the Political Affairs Committee has proposed to amend the law to review large company shareholders like the Corporate Governance Act." Therefore, it is expected that the financial authorities' acceptance of the Gopax operator change report will be delayed. If Binance's acquisition of Gopax fails, the withdrawal of GoFi deposit assets may be interrupted. (source link)

ChainCatcher news, the head of the Financial Supervisory Service of South Korea, Lee Bok-hyeon, stated in an interview that "Terraform Labs CEO Do Kwon and his colleagues wish to be repatriated to South Korea." Previously, the country's prosecutors also stated that they are making every effort (such as dispatching investigators) to repatriate Do Kwon.According to previous reports, Do Kwon's legal representative in Montenegro, Voislav Zetsevich, stated in an interview that regarding the passport forgery case involving Do Kwon, they have appealed the first-instance verdict to the high court, and if they lose, they will also appeal the case to the Supreme Court for a final ruling, exercising their right to self-defense as much as possible. An article from the Korean News Agency commented that this means that actual extradition may take quite a long time. (Source link)

ChainCatcher news, according to South Korean media Herald, financial regulatory bodies such as the Financial Services Commission and the Financial Intelligence Unit (FIU) have proposed to include the content of "tokens being directly approved by regulatory agencies for listing on domestic crypto exchanges" in the basic virtual asset law.It is reported that the proposers believe that companies need to obtain approval from the Financial Commission under the Capital Markets Act when listing securities, so delegating the token listing of domestic exchanges to self-listing is too risky. However, there are also differing opinions within the organization, both in favor and against, so whether it can be realized remains to be seen. (Source link)