The BOK has almost completed the design and technical study of its CBDC, but does not intend to rush into the pilot before undertaking legal and regulatory assessments.
The FSC did not name the firms that were penalised, but said the highest fine was KRW 180 million against a firm that committed four violations.
The guidelines require participating firms to ensure consumers have sufficient awareness of their privacy rights when consenting to data transfers.
South Korean insurers recorded a combined loss of KRW 194.4 billion from overseas alternative investments due to the pandemic.
The BOK said it opposes the payment settlement system being used to oversee private transaction data, calling a revision bill proposed by the FSC a "Big Brother law".
The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.
Specialised credit finance companies will be required to implement new best practice guidelines on liquidity risk management, enhance disclosures, and use less leverage.
SIFIs will have 3 months after designation to submit recovery plans to regulators. The FSC will have the authority to demand action from a SIFI in line with its recovery plan.
The changes add to revisions proposed in November to align requirements for VASPs with the FATF recommendations.
Following talks with FSC Chairman Eun Sung-soo, five major banking groups agreed to extend the loan deferment programme until September.
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