Korean authorities rule out immediate relaxation of virtual asset regulation

Odaily Planet Daily News After internal review, South Korea's Financial Services Commission, Ministry of Economy and Finance, and the Bank of Korea have stated that it is difficult to push forward with the virtual asset regulatory easing measures requested by the industry at the current stage.

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

A relevant official from the South Korea's Financial Services Commission stated that the regulatory authorities are currently gathering industry opinions on specific implementation details, with no plans to relax regulations. There is currently no finalized plan in place. (Edaily)