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：经济时评)

• ·Quantum BioPharma加码加密货币投资至450万美元
• ·请问苏宁任性付是什么？我在苏宁上看到了苏宁任性付。
• ·统一钱包
• ·5月21日关键市场信息差，一定要看！｜Alpha早报
• ·未分配利润转实收资本怎么记账
• ·三栏式明细账有哪些
• ·火币网公司的
• ·火币网违法
• ·火币交易时间
• ·火币pro官网下载
• ·拍拍贷筹集一晚上了还是百分零是怎么回事？我该怎么办。
• ·kraken交易平台
• ·火币网交易手续费
• ·火币网上市
• ·爱荷华州法院裁定比特币 ATM 运营商胜诉
• ·防伪税控服务费全额抵扣会计分录怎么做