South Korea Prepares For Second Phase Of Crypto Asset Regulation
The FSC concluded a digital asset private joint task force (TF) working group meeting on Monday to outline legislation for fully incorporating virtual assets into the institutional system. The second phase focuses on regulating virtual asset issuance and financing by virtual asset operators, solutions to conflicts of interest in the issuance process, stablecoin regulatory frameworks, and other remaining aspects of the crypto market. advertisement “We will prepare for the second phase of legislation for virtual assets before the law is implemented. We will actively negotiate with relevant agencies such as the Ministry of Strategy and Finance, the Ministry of Science and Technology, the Ministry of Justice, the Ministry of Administrative Security, the prosecution, the police, the Bank of Korea, and the Financial Supervisory Service, and promote various measures to establish a market discipline system.” Also Read: Regulators in Australia Search Binance O...