After the plenary session of the South Korean National Assembly passed the relevant bill on the protection of virtual asset users (referred to as the "Virtual Assets Act"), the South Korean Financial Services Commission (FSC) issued a statement stating that the bill will be issued on January 1 after going through the government's legal promulgation process. Years later (expected to be implemented in July 2024). South Korea's "Virtual Assets Act" mainly includes "protection of assets of virtual asset users", "regulation of unfair trading behavior in the virtual asset market", "financial authorities' supervision and sanction authority over the virtual asset market and operators", etc. FSC stated that it will formulate relevant sub-regulations in the future. At the same time, before the law is implemented, it will actively negotiate with relevant agencies such as the Ministry of Planning, Science and Technology, Ministry of Justice, Ministry of Administration and Security, prosecutors, Bank of Korea, and Financial Supervisory Service to establish The market rule system adopts a multi-pronged approach.