The South Korean Virtual Asset Market Investigation Committee will formulate sanctions against market manipulators in the encryption market

South Korea recently held the first meeting of the Virtual Asset Market Investigation Committee to review issues such as price adjustments and unfair trading in the virtual asset market. The inaugural interim review meeting was chaired by Kim Fanji, Executive Committee Member of the Financial Service Committee (FSC), and professors and experts who have been active in the virtual capital industry have been appointed as private committee members. The Financial Committee will investigate suspicious incidents by reviewing the results of the hearing on abnormal transactions in the virtual asset exchange and receiving reports, and then conduct investigations in collaboration with the Financial Supervisory Service. After the investigation is completed, the interim investigation committee will submit a report, notify the investigative agency, and decide on measures such as fines, warnings, and admonitions. It is reported that measures against individuals engaged in unfair trading were also approved at the first pre-trial on the same day. The final level of sanctions will be confirmed at a regular meeting of the Financial Service Committee. (Daily Economic News)