South Korea's Financial Services Commission (FSC) has announced that the newly formed Virtual Asset Committee will hold its first meeting on November 6. The committee will focus on the second phase of the country's virtual asset legislation, with responsibilities including addressing corporate virtual asset accounts, legalizing self-regulatory organizations, protecting customer assets, and preventing unfair transactions. One of the committee's top priorities is to determine whether South Korea should allow corporate investment in virtual assets, including the launching of virtual asset spot exchange-traded funds (ETFs). Currently, financial authorities in the country regulate banks from issuing real-name accounts to corporate entities involved with crypto investment, resulting in hampered corporate participation in the virtual asset market.
- Content Editor ( coinedition.com )
- 2024-10-30
South Korea’s Virtual Asset Committee to Tackle Corporate Crypto Investment