Founder and CEO of Cryptoquant, Ki Young Ju, was recently requested to conduct a seminar by the Financial Service Commission (FSS) of South Korea. To obtain a better perspective of what topic he should cover, Young asked his followers. Jaewoo Cho from Blockchainist at Hansung University suggested that building an on-chain database and supportive analysis personnel training should be a subject of discussion.
South Korean lawmakers are on the cusp of passing the digital asset market regulation bill that is expected to bring a sense of optimism. This is mostly due to the progress made by the first subcommittee of the Political Affairs Committee in March. However, the passage of the bill is not expected to be the end of the work related to regulations as Rep. Kim Hee-gon has warned that a certain aspects might still need to be revised.
In addition, the failure of Terraform Labs acted as a crucial reminder to the lawmakers of the importance of having proper rules and regulations for the cryptocurrency industry. Legislators in the Korean peninsula are reportedly deliberating about 18 previously proposed bills concerning virtual assets. All of this goes to show the potential of having a proper governing body in place to ensure the safety of the digital asset market in South Korea.
Mary King
- 2023-04-01
South Korea Makes Legislative Progress on Digital Assets
The Financial Services Commission of South Korea recently requested Ki Young Ju, CEO of CryptoQuant, to give a seminar on building an on-chain database and personnel training. South Korea is in the process of passing a digital asset market regulation bill, but legislators are also considering 18 proposed bills concerning virtual assets.
