The Bank of “South” Korea

Felix I. Lessambo ()
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Felix I. Lessambo: Fordham University

Chapter Chapter 12 in Fintech Regulation and Supervision Challenges within the Banking Industry, 2023, pp 153-162 from Palgrave Macmillan

Abstract: Abstract The Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) are the major regulatory authorities in the FinTech industry. The FSC is the government regulatory authority, which assumes primary responsibility for rulemaking and licensing. The most important policy introduced to spur the development of the fourth industrial revolution and new growth industries such as fintech is the Regulatory Sandbox Program, which came into effect on April 1, 2019. Cryptocurrency ICOs are still banned because of multiple cases of fraud, but there are signs that new regulation may be under way that will boost innovation, while providing security in the field.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-031-25428-4_12

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DOI: 10.1007/978-3-031-25428-4_12

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