South Korea
Digital Asset
Delio Ruling: First Guilty Verdict for False Virtual Asset Business Registration Under Specified Financial Transaction Information Act
- The Seoul Southern District Court (11th Criminal Division, Presiding Judge Jang Chan) sentenced Delio CEO Jeong Sang-ho to 15 years in prison on August 13, 2026.
- The court ruled that Jeong submitted an asset audit report with inflated holding figures to obtain approval as a registered virtual asset business operator, then operated the business for one year and four months on that basis.
- This is the first conviction of a virtual asset business operator's CEO for violating the Specified Financial Information Act, alongside charges under the Act on the Aggravated Punishment of Specific Economic Crimes (fraud) and fraud.