South Koreas Cabinet passed the Virtual Asset User Protection Act executive order, which will take effect on July 19

2024/06/25 18:02

Odaily News The South Korean State Council passed the Virtual Asset User Protection Act executive order, which will take effect on July 19. The decree aims to protect virtual asset users and regulate the order of the virtual asset market. According to the new law, virtual asset service providers (VASPs) must protect user deposits through banks and isolate users virtual assets from the Internet to prevent risks such as hacker attacks. In addition, the Financial Services Commission will establish a Virtual Asset Committee to provide policy and regulatory advice on the cryptocurrency market. The new law also stipulates criminal penalties and fines for unfair trading practices such as the use of undisclosed important information and market manipulation. Virtual asset service providers have the right to stop users cash and virtual asset deposits and withdrawals under reasonable circumstances. (Economic Herald)

原文链接
Latest news
01:57
BTC falls below 118,000 USDT
00:34
ETH breaks through 3800 USDT, up 6.84% in 24 hours
00:16
OpenSea changed its official X avatar to Moonbirds, which caused Moonbirds floor price to rise by 24.5%
23:44
The White Whale made nearly $30 million in profits from long ETH and SOL in the past week
23:44
Ethereums market value exceeds Vanguard Group, and its global asset market value ranking rises to 28th
Recommended Reading