According to Foresight News, the South Korean Digital Asset Exchange Alliance (DAXA) has introduced new regulations ahead of the Virtual Asset User Protection Act, which takes effect on July 19. The newly implemented rules include the 'Real-Time Abnormal Transaction Monitoring Model Rules' and the 'Standard Advertising Rules.'
The 'Real-Time Abnormal Transaction Monitoring Model Rules' encompass an alert system initially adopted as a self-regulatory measure. This system, now mandatory for all exchanges under the new law, outlines general market monitoring procedures that must be followed. These measures aim to enhance the oversight of digital asset transactions and ensure compliance with legal standards.
Additionally, the 'Standard Advertising Rules' specify the procedures and methods that exchanges must adhere to when conducting advertising campaigns. These rules are designed to standardize advertising practices and ensure that promotional activities are conducted transparently and responsibly.