South Korea is pushing forward with new regulations that would require key opinion leaders (KOLs) promoting cryptocurrency and stock investments on social media to disclose their holdings and whether they receive compensation. Kim Seung-won, a member of the National Assembly's Political Affairs Committee, is reportedly drafting amendments to the Capital Markets and Financial Investment Industry Act and the Virtual Asset User Protection Act. According to the proposal, anyone who repeatedly provides investment advice to the public or receives compensation for encouraging the trading of financial products or virtual assets must disclose the amount of compensation received and the types and quantities of assets held. Violators could face penalties equivalent to those for market manipulation or insider trading. (Cointelegraph)