Economic Democracy 21 Accuses Hyperism of Misusing Klaytn Funds: Legal Implications Unveiled

Economic Democracy 21 has accused those involved of violating the law regarding the use of funds invested by Klaytn, a public blockchain network. In particular, it has accused Hyperism, a virtual asset investment company and asset manager, of violating the law. Partner Attorney Ohoon Kwon analyzed the situation, saying, “When Klaytn conducted the Klay private sale, it was not possible to account for the gains acquired with virtual assets, so further confirmation of the alleged misuse of funds is necessary.” In addition, the large payment of Clay gains to a related party may be seen as embezzlement, but since it is not a foreign currency, it is unlikely to violate the Foreign Exchange Transaction Act.

URL : Economic Democracy 21 Accuses Hyperism of Misusing Klaytn Funds: Legal Implications Unveiled