The Korean regulatory agency is considering whether to include the confiscation of proceeds from virtual asset insider trading in the second phase of the bill.

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ME News, April 11 (UTC+8): South Korea’s financial regulators are considering whether to include the clause “confiscating the principal in virtual asset insider trading cases” in the second phase of legislation expected to be announced in the second half of this year. Under the current Virtual Asset User Protection Act, the government is only authorized to confiscate investment principal when there are fraudulent transactions or market manipulation. In insider trading cases, there is no legal basis to confiscate investment principal. Therefore, the Financial Supervisory Service has recently submitted this issue to the Financial Services Commission, which is currently reviewing whether to include it in the second phase of the law. In the stock market, all crimes involving improper trading can result in the confiscation of investment principal. (Source: PANews)

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