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：商业观察)

• ·火币提现
• ·zk交易所
• ·香港比特币地址有哪些？全球顶尖比特币地址交易量排名
• ·关联方资金拆借利息支出分录怎么做
• ·什么天气明天什么天气
• ·链交易所
• ·British fintech giant Revolut reportedly plans to launch its own stablecoin
• ·股票质押借钱-股票质押借钱利息多少
• ·卡牛信用管家里的极速贷是真的吗？
• ·Solana模因币5月交易量飙升至10亿美元，市场主导地位显著提升
• ·什么蜡烛对应什么星期
• ·比特派钱包官方下载
• ·ok火币
• ·金塔股票-金塔集团股票
• ·火币网莱特币交易平台
• ·细数十大btc交易所app排行榜 盘点十大比特币交易所区块链