2024.06.28
Korean Crypto Exchanges Update Terms for Deposit Returns and Interest Payments
Ahead of the 'Virtual Asset User Protection Act' next month, cryptocurrency exchanges have clarified deposit return claims and interest payments. Users can now withdraw KRW deposits and will start receiving interest on these deposits, with specific amounts and methods varying by exchange. Upbit and Coinone are among the exchanges updating their terms to reflect these changes. Additionally, exchanges will keep transaction records for 15 years, minimize deposit and withdrawal blocking measures, and support withdrawals during service interruptions. These revisions comply with the new act, ensuring secure storage of deposits and safe investment practices.
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