According to TechFlow, South Korean cryptocurrency exchange Bithumb has updated its terms of use to comply with South Korea’s Virtual Asset User Protection Act. The main revisions include:
Clarify the definitions of virtual assets, Korean won and abnormal transactions.
Specify service types and add new laws and regulations as the basis for the right to use services.
Update service usage restrictions and termination conditions, and add monitoring measures for abnormal transactions.
Add new deposit-related regulations to ensure that user funds and company assets are managed separately.
Clarify transaction support termination procedures and related notifications.
Users are required to refer to the new terms when using the services.