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South Korea reports first crypto ‘pump and dump’ case under new law

On January 16, South Korea’s authorities took legal action against individuals for unfair crypto trading practices under recent regulations aimed at protecting investors. The accused allegedly inflated cryptocurrency prices artificially, profiting hundreds of millions of Korean won over a month.

In light of increasing transaction volumes and trading irregularities, the Financial Services Commission aims to strengthen oversight. They emphasize the need for transparency and fair trading practices within the rapidly evolving digital asset landscape.

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