South Korean lawmakers are calling for stricter regulation of digital assets following a murder case involving cryptocurrency-related losses. The incident has added urgency for the nation's first standalone crypto bill, which could be passed in a parliamentary vote later this month. The proposed Virtual Asset User Protection Bill combines 19 different crypto-related bills and outlines clear legal definitions of virtual assets, imposes penalties for offenses such as insider trading and market manipulation, and grants the country's Financial Services Commission power to oversee crypto companies and custody of assets. The bill also requires digital asset firms to take out insurance to protect themselves from hacks and imposes tighter rules on reserve funds and account keeping.