South Korean congressman proposes to create a bill criminalizing cryptocurrency market manipulation

South Korean congressmen announced the creation of a draft private members bill aimed at criminalizing cryptocurrency market manipulation. The bill will be submitted to the Finance or Law Committee of the House of Commons. If approved, members of Congress can vote on it in the first half of this year. The lawmakers stated that there is currently no specific legal basis to address unethical trade practices in the encryption field, such as manipulating market prices, committing crypto speculation, or charging excessive fees by virtual asset service providers