The Korea Communications Commission (KCC) and the Ministry of Science, Information and Communication Technologies announced joint inspections of companies and exchanges that conduct transactions with cryptocurrency. This is reported by Bitcoin dot com.
KCC plans to check the exchanges for compliance with technical and administrative guarantees for the security of personal information and intends to severely suppress any violations identified.
The Korea Communications Commission (KCC) plans to conduct on-the-spot checks on the implementation of technical and administrative safeguards for personal information pursuant to the Act on the Promotion of Information and Communication Network Utilization and Information Protection, and to strictly rectify any violations.
Attention of KKC to cryptocurrency organizations can be caused by the increased cases of digital wallets and hacker attacks that lead to the leakage of personal information.
This check is due to the increase in user damages due to subsequent hacking accidents involving virtual wallet hacking and personal information leakage. The government plans to prevent the occurrence of similar damages and to provide an environment for safe service utilization through inspection of companies handling virtual currencies.
The Korea Herald