#SouthKoreaCryptoPolicy 📜 1. Virtual Asset User Protection Act (July 2024)

Introduced to safeguard users via stricter regulations:

Exchanges must store at least 80% of user crypto in cold wallets.

Maintain user funds separately from internal assets.

Require deposit insurance or cold-storage reserves.

Enforced KYC (real-name bank accounts) and AML measures .

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🔄 2. Second-Wave Regulation – Phase 2 (by mid‑2025)

FSC began crafting new legislation focused on:

Enhancing transparency in listings and disclosures.

Setting uniform disclosure rules aligned with traditional finance.

Rolling out stablecoin regulations around reserve assets and redemption rights .