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South Korean regulator to reportedly shut down 11 crypto exchanges

CryptocurrencyAug 02, 2021 07:40AM ET
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South Korean regulator to reportedly shut down 11 crypto exchanges

South Korea’s top financial regulator, the Financial Services Commission, is reportedly planning to shut down a dozen local cryptocurrency exchanges amid fraud allegations.

The FSC will suspend operations of at least 11 mid-sized crypto exchanges in South Korea due to alleged illegal activities and fraudulent collective accounts, local news agency The Korea Herald reported Sunday. The publication cited anonymous industry sources claiming that the names of the exchanges were not yet disclosed.

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South Korean regulator to reportedly shut down 11 crypto exchanges
 

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