[South Korea establishes a digital asset protection fund to assist in recovering user funds from failed crypto exchanges] Golden Finance reported that South Korea will establish a digital asset user protection fund to help users affected by failed crypto exchanges recover trapped funds. The fund was initiated by the self-regulatory organization DAXA and approved by the Financial Services Commission (FSC) of South Korea. It is scheduled to start in October. As 10 of the 22 crypto exchanges in South Korea have been closed and another 3 have suspended operations, the security of user funds has become a focus of attention. The fund will negotiate with the failed exchanges to transfer user funds and virtual assets to the bank accounts managed by the fund, and then contact the users to arrange the return process.