[DigitalTimes] The Act on the Protection of Virtual Asset Users Takes Effect: Civil and Criminal Disputes Expected to Rise

On July 28, 2024, DigitalTimes featured comments from Jongsoo (Jay) Yoon, a partner at Lee & Ko. As the Act on the Protection of Virtual Asset Users comes into effect, strengthening regulatory oversight and sanctions, experts anticipate a surge in related legal disputes. Yoon, who heads Lee & Ko’s Virtual Asset Team, commented, “We've already seen an increase in requests for advisory services on interpreting the Act’s provisions and understanding its practical scope.” He further predicted, “With the Act now in effect, we expect to see growing demand for both compliance advisory services and litigation support.”