South Korean authorities will increase penalties for crypto-fraud

The majority of South Koreans are in favor of regulating the cryptocurrency market. Citizens of the country believe that only by implementing a regulatory framework can transparency of transactions and safety of investors be ensured.
Due to the activation of hackers and fraudsters, the authorities have decided to toughen penalties for crimes involving digital currencies.
The Financial Services Commission (FSC) is developing a mechanism to monitor cryptosphere activity together with representatives of the blockchain industry. With its help, the authorities will not only be able to track and stop transactions involving scammers and hackers, but also to counteract price manipulation of cryptocurrencies.

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