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2024.03.13

Financial Supervisory Service Prepares for Virtual Asset User Protection Act Implementation

The Financial Supervisory Service is gearing up for the implementation of the Virtual Asset User Protection Act in July. Their focus is on ensuring market stability, supporting operators in adhering to regulations, and establishing surveillance systems to detect unfair transactions. Through on-site consulting and support, they aim to help operators comply with regulations and restore trust in virtual asset exchanges. Key measures include establishing a disciplinary system, enhancing communication with businesses, and promoting market self-regulation. The agency plans to streamline inspections, prioritize important operators, and eradicate illegal behavior through proactive surveillance and cooperation with related organizations.

 

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