Post the FTX scandal, the Korea Financial Intelligence Unit is investigating crypto exchanges for issuance of internal tokens
This year, most recently during the FTX meltdown, native crypto assets have been the primary cause of the downfall of multiple exchanges and ecosystems. The Korea Financial Intelligence Unit (KoFIU), the country's financial watchdog, took note of this and opened an inquiry into crypto exchanges about the listing of their own internal and self-issued coins.
Due to the decline in the value of its proprietary token the FTT or the FTX Token, crypto exchange FTX and its 130 connected companies recently filed for bankruptcy. KoFIU is now looking into Korean crypto exchanges (even though it is illegal for them to issue native tokens) in order to assure regulatory compliance for investor protection.