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News Explorer — South Korea Mulls Virtual Asset User Protection Act

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Jul 3, 9:06 pm
nftnow.com

South Korea Mulls Virtual Asset User Protection Act

South Korea's National Assembly has approved the Virtual Asset User Protection Act, the country's first legal framework for digital assets. The legislation aims to define digital assets, impose penalties for unfair practices, and ensure that service providers meet specific requirements to protect investors. The Financial Services Commission will oversee compliance, and the Bank of Korea will have the right to request data from these entities.

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