South Korea targets crypto violations with AI, new law

Homepage > News > Business > South Korea targets crypto violations with AI, new law South Korea brings AI to crypto surveillance Detecting crypto trading anomalies Lawmakers pushes for expansion of FIU’s crypto powers South Korea is increasing its focus on maintaining an orderly digital asset space, with the country’s finance regulator launching an artificial intelligence (AI)-based surveillance system to detect market manipulation and other forms of unfair trading in the crypto market in real time. At the same time, lawmakers are launching a bill to expand the powers of the country’s financial intelligence watchdog to investigate unregistered crypto businesses. Regulator doubles down on AI assistance On August 20, the Financial Supervisory Service (FSS) announced that it has developed and deployed a new AI-powered surveillance framework designed to detect and analyze suspicious crypto trading in real time, according to local outlet Business Korea. The system is an attempt to modernize oversight of digital asset markets by applying AI to the challenge of monitoring thousands of tokens that trade 24/7 across multiple domestic and international exchanges. To capture abnormal...