Republic of Korea: Adopted Virtual Asset User Protection Bill
Description
Adopted Virtual Asset User Protection Bill
On 30 June 2023, the National Assembly of Korea adopted the Virtual Asset User Protection Bill including consumer protection regulation. The Law applies to all acts affecting Korea, even if carried out abroad, involving virtual assets and virtual as…
Scope
Policy Area
Consumer protection
Policy Instrument
User/subject right
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
legislature
Government Body
parliament
Complete timeline of this policy change
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2023-05-11
under deliberation
2023-06-30
adopted