According to a report from the Financial Services Commission of South Korea to the Political Affairs Committee of the National Assembly, the Financial Services Commission of South Korea is promoting a plan to introduce a class action lawsuit system for unfair trading of virtual assets and pursue liability for loss compensation. The plan aims to protect investors by formulating other penalty plans for unfair trading in addition to criminal penalties.
The Financial Services Commission also reiterated its stance that virtual assets are not financial assets and are highly speculative in nature.
According to analysis, the above actions of the South Korean financial authorities were due to a murder case related to a failed virtual currency investment in downtown Seoul last month, coupled with the continuous occurrence of currency market manipulation. (Planet Daily)