South Korea Enforces New Crypto Law To Curb Unfair Trade

South Korea has enacted the Virtual Asset User Protection Law.

South Korea has made a new law to protect people who invest in digital money like Bitcoin, called the Virtual Asset User Protection Law. This law makes sure people play fair when buying and selling digital money. If they cheat, they might go to jail for at least one year or pay big fines. Companies that handle digital money must also keep it safe and insure it. This law was made after a big digital money company, called Terra, collapsed and was found to be cheating. The person who started Terra, Do Kwon, could go to jail for breaking financial laws.