Defendants shall be punished by a fine of KRW 50,000,000.

Defendant

If A does not pay the above fine, it shall be 100.

Punishment of the crime

Defendant

A is a representative of B (mutual change at H on January 15, 2018), Defendant B is a corporation established for the purpose of Internet-related business, system software development and supply business.

Where a resident under the Foreign Exchange Transactions Act intends to make transactions with a nonresident in a foreign currency, he/she shall report to the head of a designated foreign exchange bank, or to the Governor of the Bank of Korea if the foreign currency deposit exceeds 50,000.

1. Defendant A, using the fact that virtual currency traded in a foreign country more than in the Republic of Korea is sealed, established a company with documents only in Singapore and Red bean, without any entity (hereinafter referred to as “catacom”), and remitted funds to purchase bitcos in a virtual currency exchange at the virtual currency exchange, and then, Defendant A made profits by bringing them into the Republic of Korea and distributing them into the Republic of Korea through electronic wallets.

On November 11, 2015, Singapore established "Puercom" with the trade name "J on 27 October 2016, 2016, and "Puercom" with the name "P," opened at Puerc Bank (OBC) in the name of "I," and opened Puerc Bank (OBC) accounts in the name of "I," and Puerc Bank account in the name of "Oeveras Chinese Berc Bank (OB), United States, U.S. (Account Number K) account (O.S.) and Washington account in the name of "Perc Bank (U.S.)" and "S. (O.S. number) account in the name of "S.P.", "S. (O. number) and "S.P.M." account in the name of "YBK" and "S.P.P. account in the name of "S.P." and "S." account in the name of "S.".

In addition, without reporting to the head of the designated foreign exchange bank on December 1, 2015, it deposited USD 3,000 ($ 2,461,020) in the domestic bank account in the name of the head of the foreign exchange bank, which he/she is his/her representative, in the manner of remitting USD 3,000 ($ 2,461,020) from USD 1 to USD 359.