2023.05.26
Will Kim Nam-guk be Charged with Violation of Capital Market Act?
The prosecution is investigating allegations against Kim Nam-guk, a National Assembly member, regarding his cryptocurrency holdings. The charges against Kim include violations of the Political Fund Act, tax evasion, and concealing criminal proceeds. The securities validity of the virtual asset WeMix is being reviewed as part of the investigation. If WeMix and other virtual assets are deemed securities, there could be additional charges under the Capital Market Act. Market manipulation would carry a more severe punishment if proven.
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