cold

Depending on the severity of the offense, those who made illegal profits of more than KRW 5 billion could be sentenced to life in prison.

The Korean government has taken additional measures to protect crypto investors from unfair market activities and criminals by introducing higher fines and penalties for violating certain rules.
According to the press release, crypto criminals face a minimum of #one year in prison or a fine of three to five times the amount stolen. Depending on the severity of the offense, those who made illegal profits of more than KRW 5 billion ($3.8 million) could be sentenced to life in prison or a fine of twice the amount stolen.
The new measures are part of the Virtual Asset User Protection Act, which will come into effect on July 19, 2024. The government passed the law on July 18, 2023.
The new law protects the assets of #cryptocurrency users and investors by placing a duty on cryptocurrency operators to protect user deposits. These deposits must be managed by a public trust, such as a bank, for reasons of regulatory compliance, stability and specialized management systems.
Cryptocurrency operators must keep at least 80% of user deposits in #cold storage to mitigate the effects of hacking or computer failure. In addition, such companies must insure themselves or create a reserve fund with agreed compensation limits to protect against misuse.
Companies are prohibited from hiding information about crypto-assets, engaging in market manipulation or illegal trading.
In addition, the new law obliges the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) to supervise and inspect digital asset businesses, as well as investigate and take action in cases of non-compliance.
The FSC can supervise virtual asset companies' compliance with the Virtual Asset User Protection Act and inspect the status of their business and assets.

Read us at: Compass Investments
#SmartContracts #CryptoTrends

Good day to you all. We have seen couple of post about fellow traders buying project token but ending up in loss because the project lack the fundamentals. I am pleased to inform you that at times rug project will play on your years of experince making you feel like a nob.

We have devoted our time and years of experienxe as a web masters to safe guide those who wanna hear. He that has the ear let them ear. We are a booming revolution, let us be your compass to navigating this hemisphere.

We are willing to lead you to the right path. We have discovered two projects as at this time that you can confidently step in at early access. All you need do is add then to your calendar and also we are going to show you how to find early project on early access via search engines but this is against the platform policy, so you'd have to send request with your number beneath this post so that we can add you to our sailing ship, and together we shall navigate the rough sea to the treasury island not matter the level of darkness around our hemisphere.
We shall axe through the rough jungle to plain island.

The first project:
+ Faly: A.K.A $FALY
As a united arab domain hosted project. Imagine a world where fun and financial freedom collide in a crunchy, crispy explosion of joy. $FALY is your golden ticket to the crypto carnival, where every trade feels like a thrill and every wallet is a potential millionaire maker.
But that's not all! We have mind-blowing, free surprises for our holders that will keep the excitement soaring!
So grab your pita, dive into Faly, and let's sizzle our way to prosperity, one delicious byte at a time! It's not just a token; it's a flavor-packed rollercoaster ride to the millionaires club! Get ready to taste the crunchiest, most delicious crypto sensation ever created—Faly!
It's not just a token.
$Faly is 32 days countdown to project lauch. So set your reminder and grab to bag as much as you can.
Web Access:
faly.ae

The second project:
+ Coldware: A.K.A $Cold
As a new evolving eco-system with concentrated focus on IOT with compounding functionality through their Coldbook, The $COLD token is the core of Coldware’s innovative approach to decentralized finance (DeFi), transforming traditional financial systems by providing inclusive, secure, and efficient services. By leveraging the Coldware blockchain’s Proof of Stake (PoS) architecture and its integration with mobile devices, $COLD Finance is creating a global financial ecosystem accessible to all, especially individuals in underserved or economically disadvantaged regions.
$Cold is 2 days countdown to project lauch. So set your reminder and grab to bag as much as you can.
Web Access:
coldware.io/#presale

We are here to lead you all to financial freedom.
Note: This projects are for long terms but not as long as waiting to long becasue all hands are on deck working 24/7.

Always stay motivated!

#BNB #Trending #Faly
#Cold $BNB $BTC $XRP