According to Decrypt, the South Korean financial regulatory agency has warned that criminals who profit over $4 million (approximately 5 billion Korean won) from cryptocurrency fraud will face life imprisonment.

The "Virtual Asset User Protection Act" enacted by South Korea in July 2024 includes a series of strict measures to prevent cryptocurrency crimes. Legislators say that the bill was partially inspired by the actions of South Korean cryptocurrency founder Do Kwon and the collapse of cryptocurrency exchange FTX.

Other measures stipulated in the Virtual Asset User Protection Law include imposing fines of three to five times the amount and up to one year in prison for illegal cryptocurrency related activities.

In addition, according to a report by Yonhap News Agency, the South Korean financial regulatory agency has warned that criminals who profit more than $4 million (approximately 5 billion Korean won) from cryptocurrency fraud will face life imprisonment.

The regulatory agency also added that when suspected illegal transactions are discovered, their organization will "concentrate all investigation resources under the principle of zero tolerance and take severe punishment measures". In addition to fines, the bill also contains other measures aimed at making Korean people use digital assets more safely.

For example, the bill requires virtual asset service providers (VASPs) to keep at least 80% of customer funds in cold wallets and must set up reserves to prevent cybersecurity vulnerabilities. In addition, cryptocurrency exchanges are also required to establish strong monitoring mechanisms to detect and report suspicious activities to financial authorities. Specifically, the law prohibits the use of insider information, manipulation of market prices, and unfair trading practices.

(责任编辑：私募资讯)

• ·如何打印总账和明细账
• ·为什么货币价值
• ·Bitget CEO 公开信：Bitget “逆势生长”的三个故事
• ·区块链怎么建立 区块链怎么建立自己的账号
• ·光大银行信用卡刷卡为什么没有积分啊？
• ·Sonic Labs 赢得法律裁决，强制 Multichain Foundation 清算以追回被盗资金
• ·冷钱包官方钱包-冷钱包官方钱包下载
• ·制造费用结转生产成本明细账怎么登记
• ·库神钱包成本价格多少-库神钱包成本价格多少钱
• ·关于币币交易平台
• ·穆迪：DePIN 技術展現出潛力，但實施上仍面臨多項障礙
• ·电费发票可以隔月抵税吗
• ·多币种数字货币钱包
• ·Concordium (CCD)怎么买？Concordium (CCD)在哪里买卖交易？
• ·火币以太经典
• ·代买比特币平台