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South Korea demands stricter crypto rules after Bithumb’s $40B bitcoin glitch exposed market flaws.
South Korea’s financial regulator has called for stronger crypto regulations after Bithumb accidentally issued over $40 billion in bitcoins due to a technical error, exposing systemic vulnerabilities in digital asset markets.
The incident, which created 620,000 "ghost bitcoins," prompted the Financial Supervisory Service to accelerate enforcement actions, including AI-powered surveillance, stricter exchange oversight, and new rules on disclosures, licensing, and cybersecurity.
The agency is also developing powers to freeze accounts involved in fraud or manipulation, following a recent court conviction of a Bithumb executive.
These moves aim to protect investors, prevent market distortions, and ensure stability as South Korea strengthens its regulatory framework for digital assets.
Corea del Sur exige reglas criptográficas más estrictas después de que el fallo de Bitcoin de $ 40B de Bithumb expuso fallas en el mercado.