#SouthKoreaCryptoPolicy

On July 19, 2024, South Korea's Virtual Asset User Protection Act (VAUPA) came into effect, marking the nation's first comprehensive cryptocurrency regulatory framework. Key provisions include:

readingcrypto.com

Cold Storage Mandate: Exchanges must store at least 80% of user deposits in cold wallets.

Bank Custody: User fiat deposits must be held by licensed banks.

Insurance Requirements: Exchanges must maintain insurance or reserve funds to cover potential losses.

Market Surveillance: Real-time monitoring systems to detect and report suspicious activities.

binance.com

These measures aim to enhance investor protection and market integrity.

#SouthKoreaCryptoPolicy #CryptoRegulation #InvestorProtection #BlockchainSecurity