🇰🇷 South Korea has implemented the first major cryptocurrency regulations! 🇰🇷
🔹 The new Protection of Virtual Asset Users (PVAU) law requires service providers (VASPs) to store 80% of users' assets in cold wallets.
🔹 The Financial Commission (FSC) will appoint reliable financial institutions to process fiat deposits.
🔹 VASPs are required to separate client funds from their own, investing them in “risk-free” assets.
The measures are aimed at protecting investors following the collapse of Terra-Luna and FTX, which hit South Korea hard.
🔹 A monitoring system has also been introduced to track abnormal transactions in real time, covering 99.9% of the country's crypto trading volume.
What do you think of these new measures? Share your opinions in the comments! 💬