Republic of Korea: Implemented Act on Protection of Virtual Asset Users
Description
Implemented Act on Protection of Virtual Asset Users
On 19 July 2024, the Act on Protection of Virtual Asset Users enters into force. The Act applies to all acts affecting Korea, even if carried out abroad, involving virtual assets and virtual asset operators, except in cases expressly provided for in…
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