Korean authorities rule out immediate easing of virtual asset regulations

Odaily reported that following an internal review, South Korea's Financial Services Commission, Ministry of Economy and Finance, and the Bank of Korea have stated that it is currently difficult to push forward with the easing of virtual asset regulations requested by the industry.

Regulatory authorities pointed out that the current policy stance has not shifted toward deregulation, and some adjustment proposals from the industry would be difficult to implement without amending existing laws. The review was prompted by a meeting held on June 8 between the Ministry of SMEs and Startups and industry representatives.

A relevant official from South Korea's Financial Services Commission stated that regulators are currently gathering industry opinions on specific implementation details, rather than planning to relax regulations, and no definitive plans have been established yet. (Edaily)