South Korea's FSS: API encrypted trading accounts for 30% of market transaction volume, will strictly investigate abnormal automated trading behaviors

Mars Finance News, according to Cointelegraph reports, the Financial Supervisory Service (FSS) of South Korea stated that API-based cryptocurrency trading currently accounts for about 30% of the market buy and sell transaction volume. The FSS pointed out that some traders are using automation tools to artificially inflate trading volume and manipulate prices, including repeatedly submitting small orders to create a false impression of activity and placing high-priced limit orders to artificially push up prices. The regulatory agency said it will conduct special investigations into accounts suspected of abnormal API trading and remind investors to be cautious of assets with sudden surges in price and trading volume without obvious reasons. Previously, South Korea had required exchanges to verify asset balances every five minutes and continued to tighten anti-fraud rules, but some regulatory measures still face constraints due to an incomplete legal framework.