The SUI token’s price has dropped by over 9% following allegations of supply manipulation by South Korean regulators. The Sui Foundation, the organization behind the SUI token, has denied these allegations and stated that there has been no sale of SUI tokens after the initial distribution. The South Korean Financial Supervisory Service (FSS) is reportedly launching an investigation into the distribution of the SUI token based on these allegations. South Korean lawmakers have been increasing their efforts to regulate crypto activity in the country. The SUI token’s price decline is also attributed to the foundation allegedly lying about the amount in circulation. The FSS is expected to introduce comprehensive crypto legislation in January next year.
