South Korea has enacted its inaugural law to protect crypto investors, called the Virtual Asset User Protection Act. This law aims to prevent unfair trading practices and strengthen market integrity following past incidents like the Terra-Luna crash and FTX's collapse.

It requires crypto exchanges to deposit users' funds in banks, offer interest, and store assets securely in cold wallets. The law also mandates monitoring and reporting of abnormal transactions to safeguard investors.

These measures represent South Korea's latest effort to regulate the crypto industry, focusing on enhancing transparency and reducing risks for users.

South Korea has enacted its inaugural law to protect crypto investors, called the Virtual Asset User Protection Act. This law aims to prevent unfair trading practices and strengthen market integrity following past incidents like the Terra-Luna crash and FTX's collapse.

It requires crypto exchanges to deposit users' funds in banks, offer interest, and store assets securely in cold wallets. The law also mandates monitoring and reporting of abnormal transactions to safeguard investors.

These measures represent South Korea's latest effort to regulate the crypto industry, focusing on enhancing transparency and reducing risks for users.