South Korean regulators aim to toughen crypto fraud punishments
South Korean regulators aim to toughen crypto fraud punishments
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In the aftermath of the Terra collapse last spring, South Korean legislators intend to ramp up legislation, putting specific emphasis on the protection of investors in virtual assets — i.e. digital currencies — and harshening penalties for unfair trade acts in the industry.
According to local media, the Financial Services Commission (FSC) and the National Assembly are working to pass a bill that would enable financial authorities to monitor and punish unfair trade practices such as the use of undisclosed information, price manipulation and fraud while supervising crypto exchanges.
