Woofun AI reports that the South Korean Financial Services Commission has published a revision draft of the "Enforcement Decree of the Special Act on Prevention of Telecommunications-Based Financial Fraud and Refund of Damages." The proposed regulations expand victim compensation scope to include funds transferred into crypto assets via phone scams, establishing clear standards for asset return and valuation. Under the new framework, victims will primarily receive compensation in the same type and quantity of frozen cryptocurrency.

If the defrauded assets differ in form from the frozen holdings, compensation will be issued in the form of assets existing at the time of account freezing. For cases involving mixed cash and crypto assets, regulators will determine final compensation amounts by valuing cryptocurrencies based on market prices at the time of freezing. The FSC stated that clarifying asset forms and valuation timing will facilitate faster and fairer compensation in complex cases involving commingled funds from multiple victims. The public consultation period for the revision draft concludes on August 24th, with the regulations expected to take effect on October 1st.