[Alpha Biz= Reporter Kim Sangjin] Against the backdrop of recent cases of virtual asset operators closing or suspending their businesses, financial authorities announced on the 6th that they would strengthen legal regulations related to business closures and actively respond to minimize user damages.

Since the implementation of user protection recommendations following business closures in November last year, the number of operators closing or suspending their businesses has been increasing. In response, from the 20th to the 23rd of last month, authorities conducted urgent on-site inspections of 10 relevant entities.

Among the recent declarations of business closures by virtual asset operators are seven companies, including Korbit, Cashierest, Huobi Korea, and ProBit, while three have partially suspended operations: Oasis, Bitrade, and BITCMON.

Authorities found numerous cases of negligence in user protection among these ten entities.

In order to address this situation, authorities have conveyed cautionary measures to these operators.

 

 

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