The Financial Services Commission (FSC) of South Korea has recently issued an amendment to the “Special Act Enforcement Decree on Preventing Telecom Financial Fraud and Reimbursing Victims’ Funds,” with the goal of formally bringing crypto assets within the scope of reimbursing funds to victims of telecom scams. Under the amendment, when the stolen assets are crypto assets, the reimbursement unit will determine (the reimbursement) based on the type and quantity of the crypto assets; if the victim’s assets involve multiple forms, the market price at the time the assets are frozen will be used as the assessment benchmark. To address the issue that some victims are unfamiliar with trading crypto assets, the regulator will designate a specialized institution to sell the reimbursed crypto assets and pay the proceeds to victims in cash. Previously, this special law was announced on March 31 and is planned to take effect on October 1. (etoday)