Coinspeaker
South Korea Passes First Independent Crypto Bill to Strengthen Investor Protection
South Korea has now implemented the first independent bill for digital assets in order to boost investor protection in the region. The development comes one year after the country’s biggest implosion of the Terra ecosystem last year which triggered the $2 trillion crypto market rout.
On Friday, the South Korean parliament passed the Virtual Asset User Protection legislation, integrating a total of 19 crypto bills. The legislation establishes clear definitions for digital assets and sets penalties for various violations, including the use of nonpublic information, market manipulation, and unfair trading practices.
Under the legislation, the top financial regulator – the Financial Services Commission (FSC) – gets the power to oversee crypto operators along with crypto custodians. Also, the Bank of Korea will have the right to probe such platforms. Furthermore, this act would require reser
We współpracy z: https://www.coinspeaker.com/south-korea-independent-crypto-bill/
