South Korea plans to require social-media influencers promoting cryptocurrencies and stocks to disclose their holdings and compensation. Lawmaker Kim Seung-won is drafting amendments to enhance transparency and prevent conflicts of interest. Violations could result in penalties similar to market manipulation. The move comes as reports of quasi-investment advisors in Korea surged from 132 in 2018 to 1,724 in 2024. Global regulators are also tightening rules on influencers to protect investors and ensure transparency. Italy’s CONSOB recently warned that EU investment and advertising rules apply to “finfluencers” promoting crypto and high-risk products.

Read more at Cointelegraph: South Korea to Require Crypto, Stock Influencers to Disclose Holdings