South Korea's National Assembly has successfully passed the Virtual Asset User Protection Act, paving the way for a solid legal foundation for virtual assets. This groundbreaking legislation, comprised of 19 lawmaker proposals, defines digital assets and establishes penalties for unfair transactions. Excitingly, it will go into effect next year, bringing increased security measures such as segregated user assets, insurance, cold wallet reserves, and transaction records. A major leap forward for the virtual asset ecosystem! 🚀
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