Korean banks sound alarm as altcoins volumes grow in the country

The global crypto market cap is $2.48 trillion with a 24-hour volume of $241.98 billion. The price of Bitcoin is $56,521.30 and the BTC dominance is at 42.6%.

by Shaurya Malwa

The Korea Federation of Banks (KFB) has recently urged its members to estimate the total number of altcoins their crypto exchange clients are offering to measure risks associated with them, local outlet The Korea Herald reported yesterday.

“One of the criteria that we recommend is the safety of digital assets and that can be measured by the number of digital coins on an exchange. If an exchange deals with too many digital assets, it takes on more risks,” an official at the KFB told the outlet.

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