Tag: South Korea
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South Korea updates its Virtual Asset Users Protection Act
South Korea, known for its thriving cryptocurrency market and proactive regulatory approach, has recently made significant updates to its Virtual Asset Users Protection Act. These updates aim to strengthen consumer protection measures and ensure the safe and transparent operation of virtual asset exchanges within the country. Increased Regulation The amended Virtual Asset Users Protection Act…
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South Korea plans a CBDC pilot in 2024
The South Korean government has recently announced its plans to conduct a pilot of Central Bank Digital Currency (CBDC) in 2024. This move highlights the country’s desire to stay at the forefront of financial innovation and digital transformation. CBDC refers to a digital form of fiat currency that is issued and regulated by the central…