South Koreas Cabinet passed the Virtual Asset User Protection Act executive order, which will take effect on July 19
Odaily2024/06/25 10:42
By:Odaily
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)
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
Bitget donates HK$12 million to support fire rescue and reconstruction efforts in Tai Po, Hong Kong
Bitget Announcement•2025/11/28 09:06
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Bitget Announcement•2025/11/27 08:19
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Announcement•2025/11/27 04:40
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
Bitget Announcement•2025/11/27 03:00
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$91,173.14
-0.33%
Ethereum
ETH
$3,055.03
+0.40%
Tether USDt
USDT
$1
+0.02%
XRP
XRP
$2.19
-1.88%
BNB
BNB
$889.86
-0.89%
Solana
SOL
$137.81
-3.47%
USDC
USDC
$0.9999
+0.00%
TRON
TRX
$0.2819
+0.56%
Dogecoin
DOGE
$0.1512
-2.17%
Cardano
ADA
$0.4213
-3.67%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now