Korea Fair Trade Commission "No policy direction has been decided regarding the virtual asset industry"

The Korea Fair Trade Commission said it is not considering a plan to designate domestic virtual asset (cryptocurrency) exchange operators Dunamu and Bithumb as financial conglomerates.

On the 3rd (local time), the Korea Fair Trade Commission said in a press release, "The research project currently underway is intended to ascertain the domestic and international regulatory status related to corporate groups whose main business is the virtual asset industry," and added, "Policy directions such as regulatory tightening have not been decided yet."

Earlier, some media outlets reported, "The Fair Trade Commission is scheduled to start a research project analyzing the regulatory status related to corporate groups mainly engaged in the cryptocurrency business," and reported that "it could designate Dunamu or Bithumb as financial conglomerates and apply financial regulations such as strengthened internal controls, prudential regulation, and reporting and disclosure obligations."