South Korea Moves to Regulate Crypto and Stock “Finfluencers”

[etfs]

South Korea is preparing new legislation that would require social media influencers promoting cryptocurrencies and stocks to disclose their holdings and any compensation received. The proposal is being drafted by Kim Seung-won of the Democratic Party, who sits on the National Assembly’s Political Affairs Committee.

The amendments would target individuals who repeatedly provide investment advice or encourage the public to buy and sell financial products — including virtual assets — through online posts, broadcasts, or publications. Under the proposal, they would need to reveal both the type and quantity of assets they own, along with any payments received for promotions. Violations could carry penalties comparable to insider trading or market manipulation, signaling a tougher stance on undisclosed financial influence.

[madtrader]

influencer transparency patch notes just dropped