The South Korean government has announced that the legislation to regulate digital currencies “is expected to focus on cracking down on criminal activities,” such as “multi-level crimes,” Yonhap News reported.

It also plans to establish confiscation rules for criminal profits to increase the effectiveness of punishment.

The government will set up regulations for securing consumer protection and transparency of transactions for virtual currency traders who conduct sales activities such as the sale, intermediation, and arbitration of virtual currencies in the amendment.