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South Korea to Include Cryptocurrency in Fraud Victim Compensation Starting October 1

GateNews
Regulation & Policy
According to Etoday, on July 17, South Korea's Financial Commission announced new regulations that will include cryptocurrency assets transferred in telecom fraud cases within victim compensation scope. Frozen crypto assets will be returned by asset type and quantity; if assets differ in form, compensation will be based on the asset's form at the time of freezing. For mixed cash and crypto holdings, regulatory authorities will estimate crypto value at the time of freezing using market prices to determine final compensation amounts. The public consultation period for the amended regulations runs through August 24.
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