South Korea Introduces Stricter Crypto Regulations Following Terra Collapse
South Korea Tightens Crypto Regulations
South Korea is moving to strengthen its crypto regulatory framework in response to the Terra ecosystem collapse last spring. The new legislation aims to enhance protections for investors in digital assets while increasing penalties for fraudulent activities and unfair trade practices.
Enhanced Investor Protections
The proposed bill, supported by the Financial Services Commission (FSC) and the National Assembly, focuses on combating unfair trade practices such as insider trading, price manipulation, and fraud. It also seeks to grant financial authorities greater oversight powers to monitor and regulate crypto exchanges effectively.
Tougher Penalties for Unfair Practices
Under the new regulations, penalties for violations in the crypto industry will be significantly harshened. This move reflects South Korea's commitment to creating a safer and more transparent environment for digital asset investments.
The legislation is expected to play a key role in rebuilding investor confidence following the Terra collapse, ensuring stricter oversight of crypto exchanges and related activities.
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