"Closed" Probit fined 330 million won for violating the Virtual Asset User Protection Act
• Oceans Co., Ltd. was found to have violated the duty to sign a user deposit management agreement.
• Under the law, virtual asset business operators must separate user deposits from company assets and place them with a bank or other custodian in trust or deposit accounts.
• The Financial Supervisory Service disclosed sanctions of a 330 million won fine and one notice of illegal conduct to a former employee.
#SouthKorea
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by Asia Stablecoin Alliance & Four Pillars
September 4, 2026 15
