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<p style="text-align: justify">Over a year since the collapse of the Terra ecosystem, created by South Korean citizen Do Kwon, led to a domino effect intensifying a $2 trillion market crash, South Korea has approved the nation’s first independent cryptocurrency law named ‘Virtual Asset User Protection’ to enhance investor protection.</p> 
<h2 style="text-align: justify" id="virtual-asset-user-protection-a-consolidation-of-19-bills">Virtual Asset User Protection: A Consolidation of 19 Bills</h2> 
<p style="text-align: justify">The National Assembly of the Republic of Korea approved the cryptocurrency-related bill today after a prolonged delay. With the approval, South Korea, a significant hub for cryptocurrencies, has formally introduced the Virtual Asset User Protection, the first independent cryptocurrency law consolidating 19 bills to reinforce investor protection.</p> 
<p style="text-align: justify">The Virtual Asset User Protection, defining cryptocurrencies, imposes penalties for violations such as the use of non-public information, market manipulation, and unfair trading practices. It also includes penalties for infringements such as the lack of insurance, reserves, and record-keeping, thereby strengthening investor protection by combining 19 cryptocurrency-related bills.</p> 
<h2 style="text-align: justify" id="south-korean-investors-rally-behind-bitcoin-cash-bch">South Korean Investors Rally Behind Bitcoin Cash (BCH)</h2> 
<p style="text-align: justify">Chinese Blockchain journalist Colin Wu suggests that the recent surge of <a href="https://en.coin-turk.com/bitcoin-crosses-30000-following-u-s-data-release-what-do-experts-say/" data-wpel-link="internal">Bitcoin</a> Cash (BCH), a hard fork of Bitcoin drawing much attention due to its ongoing rally, might be backed by South Korean investors.</p> 
<p style="text-align: justify">Wu stated, “The reason for the BCH rally could be South Korean investors. In the past 24 hours, over $350 million of trading volume has been recorded in the BCH/KRW trading pair on Upbit, South Korea’s largest cryptocurrency exchange. This contributes 23.58% of the total trading volume for BCH. This is also three times the trading volume of <a href="https://en.coin-turk.com/crypto-analyst-credible-crypto-issues-bitcoin-crash-warning-as-btc-struggles-below-key-level/" data-wpel-link="internal">BTC</a>/KRW on Upbit.”</p> 
<p style="text-align: justify">At the time of writing this article, BCH is trading at $307.78, surging by 34.32% in the last 24 hours, breaking past the $300 barrier.</p> 
<p>The post <a rel="nofollow" href="https://en.coin-turk.com/south-korea-approves-first-independent-cryptocurrency-law-bolstering-investor-protection/" data-wpel-link="internal">South Korea Approves First Independent Cryptocurrency Law, Bolstering Investor Protection</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

South Korea Approves First Independent Cryptocurrency Law, Bolstering Investor Protection

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