South Korea is establishing a 15-member public-private committee to address issues in the virtual asset market and explore cryptocurrency legislation. The committee, led by the Financial Services Commission vice chairman, will include government officials, legal professionals, academia representatives, and industry experts. One of its key roles will be to evaluate South Korea's plans for spot cryptocurrency ETFs and corporate virtual asset accounts. The committee aims to address structural problems in the virtual asset market and establish a regulatory framework for the industry. The Financial Services Commission is also reviewing virtual asset business operator renewals and working to strengthen its reporting system. The launch date for the committee has not been announced yet.



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