Act on the Protection of Virtual Asset Users
Also known as: South Korea Virtual Asset User Protection Act
Overview
Key Details
Jurisdiction
South KoreaRegulator
FSC / FSS
Law Type
Act
Status
In ForceOfficial Law Number
Act No. 19563
Official Title
Act on the Protection of Virtual Asset Users
Effective Date
July 19, 2024
Publication Date
July 18, 2023
Last Verified
August 24, 2026
Topics Covered
Who This Law Applies To
Key Requirements
Official Sources
Related Laws
South Korea VASP Registration Regime
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BCB Resolutions No. 519, 520 and 521 of 2025 — Virtual Asset Regulatory Framework
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IOSCO Policy Recommendations for Crypto and Digital Asset Markets (2023)
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The IOSCO Policy Recommendations for Crypto and Digital Asset Markets (2023) contain 18 recommendations grounded in the principle of consistent regulation of economically equivalent activities. They address conflicts of interest, market manipulation, custody, disclosure, retail risks and cross-border cooperation. IOSCO recommendations are not self-executing domestic law — implementation depends on member regulators in their respective jurisdictions.
Virtual Asset (Service Providers) Act, 2020 — 2024 Revision and Phase Two Licensing
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The Cayman Islands Virtual Asset (Service Providers) Act 2020, as revised in 2024, creates registration and supervisory requirements for virtual-asset service providers operating in or from the Cayman Islands. Phase Two, effective 1 April 2025, introduces full licensing requirements for custody and virtual-asset trading platforms. The canonical profile covers the Act with the linked 2024 amendment and 2025 commencement order.
Texas HB 1666 / Finance Code Chapter 160 — Digital Asset Service Providers
Texas Finance Code Chapter 160 — Digital Asset Service Providers (HB 1666)
Texas HB 1666, codified as Texas Finance Code Chapter 160, governs covered digital-asset service providers meeting customer or asset thresholds in Texas. It restricts commingling and misuse of customer funds, requires sufficient reserves, mandates quarterly accounting disclosures to customers, and requires annual reporting and auditor attestation for covered providers.
California Digital Financial Assets Law (DFAL)
California Digital Financial Assets Law (AB 39 / SB 401)
California's Digital Financial Assets Law (DFAL), enacted through AB 39 and SB 401 as consolidated legislation, creates a state licensing regime for digital financial asset businesses operating in California. General licensing requirements apply from 1 July 2026; earlier staged dates apply to digital-asset transaction kiosks. Do not assign a single blanket effective date.
