A South Korean foundation, supported by regulatory bodies, plans to recover funds for users affected by closed cryptocurrency exchanges. Backed by the Financial Services Commission (FSC) and created by the Digital Asset Exchange Joint Consultative Group (DAXA), the foundation will operate within a legal framework to aid impacted investors. Scheduled to launch in October, it aims to address concerns of users with funds stuck in nonoperational exchanges. The initiative seeks to restore public trust in the crypto market by developing legal and financial pathways for affected individuals. With the rise and fall of crypto exchanges in South Korea, the foundation's role is crucial in assisting investors in recovering lost assets. By collaborating with regulators and industry experts, it aims to facilitate the recovery process through legal actions, regulatory reforms, and public education, ultimately contributing to the stability of South Korea's crypto market. Read more AI-generated news on: https://app.chaingpt.org/news