South Korea proposes FSC screening of crypto projects

According to Cointelegraph, South Korea’s financial watchdog proposed amendments requiring new executives of crypto projects to get regulatory approval. The amendments need to be included before they start working in crypto companies.

Sources revealed that on February 5, 2024 the Financial Services Commission (FSC) proposed a change in its virtual asset service provider (VASP) reporting requirements. The proposal aims to give the FSC the authority to screen executives joining crypto companies.