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：银饰)

• ·GENIUS稳定币法案拆解：发行资格、监管红线与核心用途全梳理
• ·个人所得税专项附加扣除需要每年更新吗
• ·火币etc
• ·tt币近期行情
• ·叮当贷的信用评估为什么老是不好？有什么办法可以提高我的贷款成功率吗？
• ·如何填写工资费用分配表？
• ·怎么联系用电矿场 怎么联系用电矿场客户
• ·10月31日南方消费升级混合A净值下跌1.54%，近1个月累计下跌2.03%
• ·请问叮当贷逾期后果有什么？我已经逾期了半个月了。
• ·10月31日易方达蓝筹精选混合净值下跌0.92%，近1个月累计下跌7.66%
• ·火币网怎么购买
• ·小微盘持仓风格暴露不断加大？多家知名量化私募500、1000指增显著超额 未来如何应对？
• ·SOON直播跟单产品simpforfun V2即将上线支持RWA资产
• ·比特币买卖平台有哪些
• ·火币充值账户
• ·东京上市公司Metaplanet超越萨尔瓦多 成为全球比特币持有巨头