The South Korea’s Financial Services Commission (FSC) and the National Assembly have reportedly aimed to pass a new law in 2023, which authorizes financial authorities to oversee and penalize unfair trade acts, including the use of undisclosed information, price manipulation and fraud while supervising crypto exchanges. It is expected that such unfair trade practice in the crypto industry will have an equivalent regulatory outcomes as compared to the traditional financial industry, though the details on the specific penalties have yet to be disclosed.