South Korean Authorities Rule Out Immediate Relaxation of Virtual Asset Regulations

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

Regulatory authorities pointed out that the current policy stance has not yet shifted towards deregulation, and some adjustment proposals put forward by the industry are difficult to implement without amending existing laws. This review stems from a meeting held on June 8th between the Ministry of SMEs and Startups and industry representatives.

An official from the Financial Services Commission stated that the regulatory body is currently gathering industry opinions on specific implementation details, not planning to ease regulations, and there are no finalized plans at this time. (Edaily)