We Resolve Legal Matters
How can we assist you?
Blogs
MoreKorea Refers Approximately 30 Virtual Asset Market Manipulation Cases for Investigation: Key Findings and Legal Risks
The Financial Services Commission and the Financial Supervisory Service have released the results of their first two years of enforcement under Korea’s Virtual Asset User Protection Act. As of July 20, 2026, the authorities had completed investigations into approximately 40 cases and referred or reported around 30 cases to investigative authorities. A total of 25 individuals were identified as suspects, with average alleged unlawful gains of approximately KRW 1.4 billion per case. Enforcement Results Under Korea’s Virtual Asset User Protection Act Korea’s Virtual Asset User Protection Act took effect on July 19, 2024. The Act prohibits unfair trading activities in the virtual asset market, including the misuse of material non-public information, market manipulation, and fraudulent trading practices. Among the approximately 30 cases referred or reported to investigative authorities, most involved suspected market manipulation. The authorities also identified several fraudulent trading
Do Crypto & Stock Influencers (KOLs) Have to Disclose Their Holdings? What the New Korean Law Means for You
Crypto and stock influencers in Korea are increasingly hearing the term "mandatory asset disclosure" — and for good reason. The Democratic Party of Korea is preparing legislation that would require financial influencers (KOLs) who recommend stocks or crypto assets to publicly disclose the type and quantity of assets they hold, as well as any compensation they receive. What Does the Proposed Amendment Actually Require? The proposed amendment to the Virtual Asset User Protection Act centers on three key obligations. Anyone who repeatedly recommends crypto, stocks, or other financial investment products to a broad audience — or who receives compensation to encourage trading — must disclose the type and quantity of assets they hold, along with any remuneration received. Remuneration includes not just cash, but tokens, commissions, advertising fees, and other forms of payment. The penalties are what make this significant. This is not a minor administrative fine. Violations could be trea
