Virtual Asset Businesses Must Report Hacking Incidents Immediately: Democratic MP Kim Hyun-jung has proposed a revision to the Virtual Asset User Protection Act. This revision will mandate virtual asset businesses to promptly report any hacking or computer failures which may significantly impact their operations to the Financial Services Commission and disclose such incidents to their users through their websites. Prioritizing User Claims: The proposed revision also introduces a preferential right to claim for return, granting users the right to receive priority return of assets they have entrusted to virtual asset businesses. This measure aims to safeguard user interests and ensure they are treated fairly in the event of incidents affecting the security of their assets.