Korea Tests Original Tokens of Exchanges After the FTX Crisis

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The Korean Financial Intelligence Unit (KoFIU) has confirmed that it has sent exchanges requests for cooperation and will be examining their token profiles.

The Korean Financial Information Use Reporting Act currently restricts exchanges from brokering the sale or exchange of virtual assets. published by themselves.

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However, Korean exchange Flata Exchange was recently speculated to be the boss of the FLAT coin. The FLAT coin was listed on Flata Exchange in 2020 and is still being traded.

KoFIU has confirmed that the 5 fully licensed fiat-to-crypto exchanges have no problems, but has yet to test the remaining 31.

Financial authorities are also examining FTT transactions in domestic exchanges for consideration damage due to FTX cause, these exchanges are said to be holding 2 billion Korean won (US$1,47 million) FTT.

FTX, once the world's second-largest cryptocurrency exchange by trading volume, filed for Chapter 11 bankruptcy on November 11, reporting that it used customer funds for operations. business action. 


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