South Korea Financial Regulator Proposes Consumer Protection Rules for Crypto Users

The rules, which come under the Virtual Asset User Protection Act passed earlier this year, are scheduled to take effect on July 19, 2024. They are open for public comment until Jan. 22.

South Korea has been ramping up its efforts to regulate the crypto sector in recent months. In July, the FSC announced draft rules that will require companies to disclose if they own or hold crypto starting next year.

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