South Korea Enforces Crypto Investor Protection Law
full version at dailycoin
South Korea’s new crypto law took effect on Friday. The law addresses oversight gaps of previous “subordinate” regulations. Crypto offenders could face up to life imprisonment under the new law. South Korea’s Virtual Asset User Protection Act took effect on July 19, marking a significant step toward bringing the country’s burgeoning crypto industry within legal boundaries. Previously, South Korea regulated crypto activities through the Act on Reporting and Using Specified Financial Transaction Information. The act was revised in March 2021 to introduce a requirement that crypto service providers register with the financial authority. This law, however, focused largely on
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