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South Korea's first cryptocurrency regulatory framework is now in full effect, with a focus on ensuring the safety of cryptocurrency investors. The new law, the Virtual Asset User Protection Law, was officially approved on July 18, 2024, and was given a one-year grace period to refine the regulatory details. The bill imposes stricter requirements on digital asset exchanges, and South Korean service providers are now legally obliged to deposit at least 80% of their users' cryptocurrency deposits.

2024-07-18 22:23:14