South Korea watchdog says tougher crypto rules needed after $40 billion giveaway

By Jihoon Lee SEOUL, Feb 9 (Reuters) - South Korea's financial market watchdog said on Monday local exchange Bithumb's unintentional giveaway of more than $40 billion in bitcoin to customers raises the ​need for tougher regulations to address the vulnerabilities of cryptocurrencies. The cryptocurrency exchange said on Saturday ‌it had accidentally given away the bitcoin to customers as promotional rewards, triggering a sharp selloff on the exchange. Lee Chan-jin, governor ‌of the Financial Supervisory ...