South Korea's Financial Supervisory Service will increase its oversight of the cryptocurrency market to combat market manipulation and enforce stricter penalties for IT failures. The initiative follows a significant incident at Bithumb, where a massive transfer error raised concerns about market integrity. The FSS is also preparing for new legislation to regulate digital assets.

Hong Joon-pyo, a candidate in South Korea's presidential primary, has vowed to reform regulations on blockchain and cryptocurrencies, aiming to foster the industry akin to the Trump administration's approach in the U.S. He also plans significant investments in AI and other advanced technologies, emphasizing the need for friendlier policies towards crypto.

South Korea's Financial Services Commission has ordered Apple to remove 14 unregistered crypto apps, including KuCoin and MEXC, from its App Store, effective April 11. This action follows a similar ban on Google’s Play Store as the country intensifies regulatory measures against unregistered foreign crypto services. Violating these regulations can lead to severe penalties for providers.