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Media CoverageAttorney Pureun “Ian” Hong from Decent Law Firm: The existence of DAXA itself is contradictory.
During the 'NBNTV WEMIX Coinone Relisting Debate' held on the 24th, Pureun “Ian” Hong, managing partner of Decent Law Firm, stated, "DAXA was created due to a legal gap, but since there is no way to sanction member companies that do not follow decisions due to this legal void, the existence of DAXA itself can be seen as contradictory." When asked about his views on the notion that DAXA's self-regulation could be viewed as collusion, Hong explained, 'DAXA's defense regarding collusion is, “We are not a compulsory body. Even if we make decisions, each individual member exchange is not obligated to follow them. They make their own decisions by agreement, so it is not collusion.”' He further added, "Coinone's unilateral decision to relist essentially proves that point. Since DAXA’s member exchanges are not required to follow decisions, they really didn’t follow it. This contradiction arises because DAXA is a self-regulatory body, and unless a legal foundation is established, issues of communication breakdown and lack of consensus will continue to occur." Additionally, he commented, "If a new exchange enters the won market by obtaining a real-name account, it will become a competitor to the five major exchanges. While they may unite to oppose it, apart from Upbit, most of the exchanges are struggling due to the crypto winter. So, each exchange may make decisions based on its own interests." He concluded by saying, "I hope the government swiftly establishes relevant laws to help protect investors and promote a healthy market order."
2023-02-24 NBN NEWS -
Media Coverage
Revenge for school violence like in the drama ‘The Glory’ leads to imprisonment in reality.
The Netflix drama 'The Glory,' which depicts a victim of school violence seeking brutal revenge on her bullies 18 years later, is creating a buzz. In the story, the victim, 'Dong-eun,' plans her revenge for over a decade and confronts her former tormentors, handing them a large bag and saying, 'If you don't fill this with money, I'll expose everything.' Some viewers, recalling their own experiences of school violence, have shared their desire for revenge on online communities or asked for advice on 'how to take revenge on school bullies.' However, in the real world, if a victim of school violence seeks 'private revenge' against bullies who escaped legal punishment, they could face imprisonment. Even if there is no direct assault, acts of threats or defamation could still lead to legal consequences. Experts advise against emotional responses and recommend that victims seek legal action by filing complaints with the evidence they collected at the time of the violence to ensure the bullies are held accountable within the legal framework. (omitted) In many cases, victims who were unable to take action at the time due to fear of further retaliation or indifference from adults later decide to seek an apology after time has passed. However, pursuing revenge out of emotion may lead to being sued for various charges. Pureun “Ian” Hong, an attorney at Decent Law Firm, stated, "Many people choose to expose their experiences of school violence online, but this could result in punishment for defamation through factual disclosure. While the victims may feel wronged, they should prioritize legal action such as filing a criminal complaint. If someone is currently experiencing school violence, they should collect evidence, such as CCTV footage or photos in cases of assault, or screenshots of social media messages or recordings in cases of threats. If that’s not possible, testimony from friends who witnessed the violence can also serve as effective evidence."
2023-02-24 biz.chosun -
Media Coverage
Illegal cryptocurrency listings and price manipulation cases continue to be uncovered.
The cryptocurrency industry is facing challenges as recent cases of bribery related to cryptocurrency listings and organized price manipulation have come to light. According to the prosecution and the virtual asset industry on the 24th, the Seoul Southern District Prosecutor's Office, Financial Investigation Division 1 (Chief Prosecutor Lee Seung-hyung), is currently investigating and has arrested listing broker Mr. Ko on charges of bribery (embezzlement) for allegedly offering billions of won to Coinone, a domestic cryptocurrency exchange, in exchange for listing several domestically issued coins, including P Coin. (omitted) Pureun “Ian” Hong, managing partner at Decent Law Firm, stated, "Currently, financial institutions such as banks and securities firms are classified as financial companies under the Act on the Aggravated Punishment of Specific Economic Crimes, which subjects employees to harsher penalties if they receive money or valuables. It is necessary to include cryptocurrency exchanges in this category to impose stricter penalties."
2023-02-24 biz.chosun -
Media Coverage
Unprecedented academic assessment score leak incident.
An unprecedented incident occurred where the scores of approximately 270,000 high school juniors who took the national academic assessment last year were leaked, prompting a police investigation. Experts have warned that even if someone did not personally hack and leak the data, they could still face punishment for transferring it to others. (omitted) Hyeonsu “Elliot” Jin, the managing partner of Decent Law Firm, explained, "According to Article 39 of the Personal Information Protection Act, if an information subject suffers damages due to the personal information processor’s violation of this law, the information subject can claim compensation for damages from the personal information processor." He added, "The students whose data was leaked, as the information subjects, can file a civil lawsuit for damages against the Gyeonggi Provincial Office of Education, the personal information processor, on the grounds of negligent management leading to the leak of personal information." (omitted) Hyeonsu “Elliot” Jin stated, "The initial distributor could be sentenced to up to three years in prison or fined up to 5 million won under Article 316(2) of the Criminal Code for breaching confidentiality, or face up to five years in prison or a fine of up to 10 million won for obstruction of official duties by deception."
2023-02-23 biz.chosun -
Media Coverage
'Pushed partner from the 5th floor', dating violence perpetrator arrested on attempted murder charges.
Police have launched an investigation into a man in his 20s who is suspected of pushing his girlfriend from a five-story building, causing her to fall. According to the police on the 17th, the Seocho Police Station in Seoul received a formal complaint in January and has since booked A, a man in his 20s, on charges of attempted murder and is currently investigating the case. The complainant, B, was in a romantic relationship with A. (omitted) Attorney Pureun “Ian” Hong of Decent Law Firm, representing the complainant, stated, "If a victim of dating violence continues to communicate with the perpetrator hastily after the incident, there is a risk that when the case becomes a criminal matter, the perpetrator might argue in front of the investigative authorities or in court that the victim has already forgiven them based on the continued communication." He further advised, "Rather than rushing into a settlement, it is crucial to consult with a lawyer, follow legal procedures, or seek help from experts to find a way out of the situation."
2023-02-17 biz.chosun -
Media Coverage
WEMIX Relisting: Coinone Chooses Practicality Over Justification.
The virtual asset industry is abuzz as Coinone resumed KRW trading of WEMIX on the 16th. It has been two months since the Digital Asset eXchange Alliance (DAXA) delisted WEMIX on December 8th last year. The sudden listing, which was not discussed with DAXA or other exchanges, has left the industry startled, and DAXA's stance on self-regulation is now being questioned. At around 9:30 AM on the 16th, Coinone announced that it would begin supporting WEMIX trading from that day. In the announcement, Coinone explained the reason for the relisting, stating, 'We have confirmed that the issues related to the violation of circulating supply, lack of information provision, and loss of trust at the time of the delisting have been resolved.' (omitted) Hyeonsu “Elliot” Jin, an attorney at the virtual asset-focused law firm Decent Law Firm, commented, "Coinone's decision does not overturn the court's judgment,' adding, 'The decision to list, delist, or relist an asset depends on the exchange's discretion, and even in the WEMIX injunction ruling, it was stated that WEMIX could be relisted if sufficient clarification is provided."
2023-02-16 etoday