South Korean authorities have indicted suspects for unfair crypto trading involving artificial price inflation and subsequent token dumping, known as a pump and dump.
South Korean financial authorities have taken action against alleged unfair cryptocurrency trading practices under the country’s investor protection regime.
On Jan. 16, South Korea’s Financial Services Commission (FSC) reported the first case of unfair crypto trading practices under the Virtual Asset User Protection Act, which took effect in July 2024.
South Korea’s Virtual Asset Protection Act requires local virtual asset service providers (VASPs) to report abnormal crypto transactions and investigate unfair trading patterns.
