According to Yonhap News Agency, the first violation case of the "Crypto Asset User Protection Act" in South Korea has been verdicted. The Seoul Southern District Court sentenced the representative of a certain cryptocurrency operating company to 3 years in prison for price manipulation, and imposed a fine of 500 million Korean Won (approximately $385,000), with approximately 846 million Korean Won (about $650,000) recovered. The court found that, between July and October 2024, the defendant used automated trading programs to artificially inflate trading volume and repeatedly issued false buy orders to manipulate prices, involving illicit gains of about 7.1 billion Korean Won (approximately $5.46 million). This case is the first to be transferred through the "Fast Track" of financial regulation since the law took effect in July 2024.