South Korea to Impose Life Sentence on Crypto Offenders Under New Rules
According to CoinDesk, South Korea's financial regulator, the Financial Services Commission (FSC), announced on July 19 that crypto offenders could face life imprisonment when new consumer protection rules come into effect. In December, the FSC proposed a consumer protection framework called Virtual Asset User Protection Act, which covers market manipulation, illegal trading, and other violations that lead to penalties or fines, depending on the severity.
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