South Korean cryptocurrency exchange operators are tightening regulations ahead of the Virtual Asset User Protection Law, effective this Friday. The Digital Asset Exchange Alliance, which includes five major local exchanges, has released guidelines to monitor abnormal transactions and enhance internal controls. The law requires providers to report unusual trading activity and protect users. Bithumb Korea has established a monitoring committee led by CEO Lee Jae-won and five other committees focused on compliance and user protection. They also incentivise employees to report unfair trading practices with rewards up to KRW300m (USD220,000). Similarly, Dunamu, operator of Upbit, has implemented a system to track trade prices and has been proactive in monitoring transactions. Starting Friday, exchanges will reassess the credibility of 600 listed coins over six months, with ongoing reviews every three months thereafter.