South Korea may propose a bill to punish cryptocurrency manipulators

South Korea is likely to introduce a bill to punish those who make unfair profits from cryptocurrency trading by inflating currency prices, insider trading or fake orders.

The study was prepared by South Korea's Financial Services Commission (FSC) after the Country's Parliament requested a study on cryptocurrency regulation. The FSC's proposed rules would be stricter than those on capital markets.

According to the proposal, those who illegally obtain benefits will be subject to civil and administrative penalties such as fines and liability for compensation, as well as criminal penalties such as imprisonment. The South Korean parliament and government will discuss details in the legislative process.

South Korea may propose a bill to punish cryptocurrency manipulators

South Korea is likely to introduce a bill to punish those who make unfair profits from cryptocurrency trading by inflating currency prices, insider trading or fake orders.

The study was prepared by South Korea's Financial Services Commission (FSC) after the Country's Parliament requested a study on cryptocurrency regulation. The FSC's proposed rules would be stricter than those on capital markets.

According to the proposal, those who illegally obtain benefits will be subject to civil and administrative penalties such as fines and liability for compensation, as well as criminal penalties such as imprisonment. The South Korean parliament and government will discuss details in the legislative process.