tl;dr
South Korea's financial regulator plans to impose life sentences for crypto scams exceeding $4 million, following the enactment of the Virtual Asset Users Protection Act in July 2024. The legislation aims to prevent crypto crime and includes fines and jail sentences for illegal profits. The regulato...
South Korea's financial regulator plans to impose life sentences for crypto scams exceeding $4 million, following the enactment of the Virtual Asset Users Protection Act in July 2024. The legislation aims to prevent crypto crime and includes fines and jail sentences for illegal profits. The regulator emphasized strict enforcement and oversight, with additional measures to enhance cybersecurity. The report also highlights the lengths some scammers go to evade authorities, including plastic surgery and international evasion. The article was sourced from Decrypt Media. The Virtual Asset Users Protection Act introduces strict measures aimed at preventing crypto crime. These measures include fines of up to five times the value of illegal crypto-based profit, fixed-term jail sentences of up to one year, cold storage requirements for Virtual Asset Service Providers, and the mandate to set aside a reserve fund for cybersecurity breaches. South Korea's Financial Supervisory Service (FSS) Chief emphasized the successful implementation and stern punitive measures under the principle of zero-tolerance when illegal transactions are detected. Amid South Korea's strict crypto regulation, some scammers have resorted to extreme measures to evade authorities, including plastic surgery and international evasion. One scammer allegedly spent $16,000 on plastic surgery and used wigs to change appearance, while another bounced across various countries to escape authorities before being apprehended.
More about General Dynamics Corporation
General Dynamics Corporation Summary General Dynamics Corporation
General Dynamics Corporation (GD) is an American aerospace and defense corporation. It is headquartered in Reston, Fairfax County, Virginia.
Industry Sector: MANUFACTURING
Key Statistics:
- Ship & Boat Building & Repairing
- Market Cap: $82.9 billion
- P/E Ratio: 23.51
- Dividend Yield: 5.48%
- Earnings Per Share (EPS): 12.83
- Price/Earnings to Growth (PEG) Ratio: 0.0789
- Revenue: $44.946 billion
- Operating Income: $3.2316 billion
- Beta: 0.207
- Volatility: 0.18
More about Federal Signal Corporation
Federal Signal Corporation Summary
Federal Signal Corporation designs, manufactures, and supplies a suite of integrated products and solutions for municipal, government, industrial, and commercial customers in the United States, Canada, Europe, and internationally. The company is headquartered in Oak Brook, Illinois.
Industry: MANUFACTURING
Sector: MOTOR VEHICLES & PASSENGER CAR BODIES
Market Cap: 5,686,587,000
Current Price: $28.35
Change: $0.44
Change (%): 3.28%
Previous Close: $29.75
EPS: $0.112
Volume: 1,810,100,000
PE Ratio: 98
Dividend Yield: 0.5%
Beta: 0.109