South Korea proposal would force crypto and stock influencers to reveal holdings and paid deals

South Korean lawmaker Kim Seung-won is drafting amendments to the Capital Market and Financial Investment Business Act and the Act on the Protection of Virtual Asset Users that would mandate disclosure by online "finfluencers." The proposal would require people who regularly promote or advise on financial products or virtual assets to reveal both their compensation and the type and amount of assets they hold, with potential penalties on par with market manipulation or insider trading.