#SouthKoreaCryptoPolicy

🇰🇷 South Korea's Crypto Crackdown or Smart Regulation?

South Korea is stepping up its game in crypto regulation — but is it for better or worse?

Starting July 2024, the Virtual Asset User Protection Act will go live, introducing stricter rules on exchanges, custodians, and token listings. The goal? To protect users after scandals like Terra-LUNA and prevent another multi-billion-dollar collapse.

🔍 Key Highlights:

No illegal trading allowed — Price manipulation = jail.

Token screening: Exchanges must evaluate coins every 3 months.

Cold wallet storage: 80%+ of user assets must be stored offline.

Insurance required: To cover hacks or operational failures.

🧠 My Take: South Korea isn't anti-crypto — it's pro-accountability. This could be a model for future global frameworks, ensuring safer markets without killing innovation.