Fintech 2026

SOUTH KOREA CONTENTS

6.7 Rules of Payment for Order Flow p.764 6.8 Market Integrity Principles p.764 7. High-Frequency and Algorithmic Trading p.764 7.1 Creation and Usage Regulations p.764 7.2 Requirement To Be Licensed or Registered as a Market Maker When Functioning in a Principal Capacity p.765

7.3 Regulatory Distinction Between Funds and Dealers p.765 7.4 Regulation of Programmers and Programming p.765 8. Insurtech p.765 8.1 Underwriting Processes p.765 8.2 Treatment of Different Types of Insurance p.765 9. Regtech p.766 9.1 Regulation of Regtech Providers p.766 9.2 Contractual Terms to Ensure Performance and Accuracy p.766 10. Blockchain p.766 10.1 Use of Blockchain in the Financial Services Industry p.766 10.2 Local Regulators’ Approach to Blockchain p.767 10.3 Classification of Blockchain Assets p.767 10.4 Regulation of “Issuers” of Blockchain Assets p.768 10.5 Regulation of Blockchain Asset Trading Platforms p.768 10.6 Staking p.768

10.7 Crypto-Related Lending p.768 10.8 Cryptocurrency Derivatives p.768 10.9 Decentralised Finance (DeFi) p.769 10.10 Regulation of Funds p.769 10.11 Virtual Currencies p.769 10.12 NFTs p.770 10.13 Stablecoins p.770 11. Open Banking p.771 11.1 Regulation of Open Banking p.771 11.2 Concerns Raised by Open Banking p.771 12. Fraud p.771 12.1 Elements of Fraud p.771

12.2 Areas of Regulatory Focus p.772 12.3 Responsibility for Losses p.772

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