#SouthKoreaCryptoPolicy 1. Virtual Asset User Protection Act (VAUPA) – Enacted July 2024

The VAUPA serves as South Korea's first comprehensive legal framework for cryptocurrencies, focusing on:

User Asset Protection: Mandates that exchanges store at least 80% of user deposits in cold wallets and segregate them from company funds.

Market Integrity: Prohibits market manipulation and requires surveillance systems to detect and report suspicious activities.