#SouthKoreaCryptoPolicy 🇰🇷💼 South Korea tightens its crypto policy: regulation underway 🚨

South Korea is taking firm steps towards stricter regulation of digital assets. Starting in July 2024, the Crypto Asset User Protection Act comes into effect, the country's first comprehensive legislation focused on protecting investors and overseeing the market.

🔍 Key points:

Exchanges will be required to separate user and corporate funds

Severe penalties for market manipulation and insider trading

The FSC (Financial Services Commission) will have full authority over the crypto ecosystem