South Korea Tightens Cryptocurrency Market Oversight

South Korea’s Financial Supervisory Service (FSS) announced a sweeping overhaul of crypto market oversight on Sunday after a Bithumb glitch last week erroneously credited hundreds of accounts with roughly 2,000 bitcoins each, briefly creating a $44 billion windfall and triggering a 30% domestic price drop. The FSS will deploy AI-driven surveillance, conduct on-site probes, and impose CEO/CISO accountability and fines, signaling tougher regulatory scrutiny that could reshape exchange operations.