The National Policy Committee of the National Assembly of South Korea passed the first phase of the virtual asset bill, the Virtual Asset Investor Protection Act, at the Legislative Review Subcommittee. The key to the first phase of virtual asset legislation is the introduction of regulations to protect users, such as customer asset protection and the prevention of unfair trading. The second phase of the legislation will move toward supplementing market order provisions such as virtual asset issuance and disclosure when international standards for virtual assets emerge.
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Policy and Regulation
