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：金店)

• ·你我贷借款怎么样？
• ·J币怎么买
• ·请问广发车主卡金卡额度多少啊？有什么权益吗？
• ·10月31日农银策略收益一年持有混合净值下跌0.56%，近1个月累计下跌5.54%
• ·超 40 家機構加入國際清算銀行新專案，探索「跨境支付代幣化」
• ·10月31日九泰久慧混合C净值下跌0.04%，近1个月累计下跌0.1%
• ·比特币火币app
• ·大鸿辉兴业底价1.83亿港元投得香港深水埗两幢旧楼
• ·氪石币行情
• ·10月31日国泰通利9个月持有期混合C净值增长0.19%，近3个月累计上涨2.59%
• ·特朗普的贸易战使硅谷和全球互联网服务面临风险
• ·光迅科技：股票交易连续两日异常波动
• ·固定资产卡片属于什么账簿
• ·10月31日广发沪港深价值成长混合C净值下跌0.60%，近1个月累计下跌2.75%
• ·加密货币创始人在乌干达遭绑架，被枪口胁迫汇款 50 万美元
• ·Epic Games 敦促法院要求苹果将《堡垒之夜》恢复到美国应用商店