According to the official announcement, Bithumb has amended its terms of use to comply with the Korean Virtual Asset User Protection Law, including: 1. Refine the concepts of virtual assets, profits, and abnormal transactions, and delete the "content service" item; 2. Modify the service type in combination with the actual situation, and add laws and regulations as the basis for the right to use the service. 3. Add the "Virtual Asset User Protection Law" as the basis for amending the provisions. ...
On July 4th, with the "Virtual Asset User Protection Law" coming into effect in July, South Korean financial authorities announced that they will cooperate with virtual asset exchanges to develop "continuous abnormal transaction monitoring guidelines". The MAS has established a unified transaction data table standard to detect abnormal transactions, and exchanges have also established computer systems. Major new items of transaction information accumulation include market information and transac...