South Korea's Virtual Asset User Protection Act took effect on July 19, 2024, mandating that exchanges keep at least 80% of customer crypto assets in offline cold storage

Comprehensive legal regimes for digital assets, such as the EU's MiCA and proposed US market-structure bills, defining how tokens are issued, traded, and supervised.

Licensing, custody, and market-conduct rules for platforms where people trade digital assets, shaped by collapses like FTX and jurisdictional disputes between regulators.

Rules for who may hold digital assets on behalf of others and how, covering qualified custodians, banking charters, and the accounting treatment of custodied crypto.