South Korea’s Financial Services Commission (FSC) has investigated more than 40 cases of unfair trading related to cryptocurrencies in the past two years, including market manipulation and fraudulent trading schemes. The investigations come after the implementation of the Virtual Asset User Protection Act, which went into effect in July 2024. According to FSC Chair Lee Eog-won, authorities have reported or referred 30 of these cases to law enforcement agencies, identifying 25 suspects since the law’s enactment.