Cha & Kwon Law Offices advised a virtual asset-related business operator by preparing an agreement governing the operation of a virtual asset exchange account for business purposes.

The key issues under the agreement included the attribution of profits and related rights arising from the account, authority to operate and control the account, follow-up measures in the event of changes in the nominal account-holding relationship, and compliance with the relevant exchange rules.

Cha & Kwon Law Offices clarified the attribution of profits and related rights arising from the account, and restricted arbitrary disposition of the account or the creation of rights in favor of third parties. In addition, in preparation for cases where the nominal account-holding relationship changes or account operation becomes difficult, we revised the relevant provisions to protect the related rights and assets and to ensure that necessary transfers or follow-up measures could be carried out.

Cha & Kwon Law Offices provides contract drafting advisory services that reflect both exchange rules and the practical realities of account operation, specifying the attribution of rights, account operation procedures, and emergency response measures.