Korean Authorities Rule Out Immediate Relaxation of Virtual Asset Regulations

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

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

A relevant official from the South Korean Financial Services Commission stated that regulatory authorities are currently gathering industry opinions on specific implementation details, rather than planning to ease regulations. There are currently no finalized plans in place. (Edaily)