2023.04.26
Vitual Asset User Protection Act has been passed in South Korea in order to protect investors
The ‘Virtual Asset User Protection Act’ passed the National Assembly’s Political Affairs Committee. The bill consolidates and adjusts 19 bills related to virtual assets and defines them as electronic certificates with economic value that can be traded or transferred electronically, excluding CBDCs. The law requires virtual asset operators to deposit and trust customer deposits, store the same items and quantity as customer virtual assets, purchase insurance, and maintain records of transactions.
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