With the price of bitcoin, recently exceeding 100 million won, millennials and GenZs are jumping back into the coin game. However, unregistered exchanges that promise investment refunds and 'scam coins' with celebrities are emerging, requiring special attention. The Virtual Asset User Protection Act will be enforced in July, but there are conflicting opinions on the scope of protection. "The Virtual Asset Law is mainly aimed at catching fraudulent activities on institutional exchanges, so it is difficult to correct scam coins" "After all, it can only be punished as a fraud crime under the criminal law, but it should be protected by making laws related to the issuance of coins" said Ohoon Kwon, partner attorney at Cha & Kwon Law Offices.

URL : Millennials and Gen Z Flock to Crypto Despite Scam Coin and Unregistered Exchange Risks