Coin

<ul class="news-points"> 
 <li><strong>Chainalysis noted that South Korea’s new rule bans insider and wash trading.</strong></li> 
 <li><strong>The Act also mandates criteria for listing new tokens and segregation of assets.</strong></li> 
 <li><strong>VASPs must subscribe to insurance or maintain reserves to safeguard users.</strong></li> 
</ul> 
<p>Leading data analytics firm, Chainalysis, brought attention to <a href="https://coinedition.com/south-korea-passes-landmark-crypto-bill-tackling-crypto-scandals/">the groundbreaking development</a> in South Korea’s crypto landscape. The data analytics firm took to Twitter to highlight the implication of the Virtual Asset User Protection Act passed by the South Korean National Assembly last week.</p> 
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   <p lang="en" dir="ltr">1/7 On 30th June, the South Korean National Assembly passed the Virtual Asset User Protection Act, which establishes key safeguards for virtual asset users. What does the Act mean for digital asset players in Korea <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1f0-1f1f7.png" alt="🇰🇷" class="wp-smiley" style="height: 1em; max-height: 1em;">?</p>— Chainalysis (@chainalysis) <a href="https://twitter.com/chainalysis/status/1675774175766810624?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">July 3, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>The act assigns the Financial Services Commission (FSC) the responsibility of supervising Virtual Asset Service Providers (VASPs), which include various entities that facilitate virtual asset purchase, sale, exchange, transfer, and storage, such as brokers, platform operators, and custodians.</p> 
<p>In line with this mandate, the FSC is anticipated to delegate day-to-day supervision task…</p>
<p>The post <a rel="nofollow" href="https://coinedition.com/chainalysis-spotlights-how-s-korean-new-act-combats-integrity-concerns/">Chainalysis Spotlights How S.Korean New Act Combats Integrity Concerns</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Chainalysis Spotlights How S.Korean New Act Combats Integrity Concerns

Coin Edition

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