Viblock Leaps Ahead in User Protection by Securing Insurance for Reserve Fund

IconCryptoNewsTerminal Staff12 Jul, 2024

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Viblock Leaps Ahead in User Protection by Securing Insurance for Reserve Fund

Viblock Exchange has become the trailblazer in the cryptocurrency industry by completing the insurance subscription process for its reserve fund insurance, a requirement mandated by the Virtual Asset User Protection Act that went into effect on July 19th. This act safeguards user assets by obligating exchanges like Wonmarket and Coinmarket to maintain insurance against hacking or closure. Viblock's representative emphasized, "Our proactive approach, outpacing industry peers like Coinmarket and Wonmarket, demonstrates our commitment to compliance." Viblock's aspirations extend beyond mere compliance. The exchange aims to secure renewal registration as a virtual asset operator in the second half of the year. To solidify this goal, Viblock is actively recruiting exceptional talent to reinforce its capabilities and ensure successful renewal registration by year-end.

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