Oh Se-jin, DAXA chair: “Transparency and trust in the virtual asset market have improved significantly”

Oh Se-jin, chair of the Digital Asset Exchange Alliance (DAXA), said he believes transparency and trust in the virtual asset market have improved significantly since the enforcement of the User Protection Act.

Attending the “Digital Asset Industry Policy Roundtable” hosted on the 14th by the People Power Party’s Special Committee on Stock and Digital Asset Value-Up, Oh said, “With the enforcement of the User Protection Act, regulations on unfair trading have been institutionalized, strengthening user protection,” adding, “Through DAXA’s self-regulatory measures, we have also steadily raised exchanges’ transparency and internal control standards.”

Regarding the recently discussed “second-phase virtual asset legislation,” he stressed, “The government’s proposal has not yet been officially announced, but we plan to faithfully convey the industry’s position on the issues being raised,” and added, “I hope industry opinions will be sufficiently reviewed not only during the bill review stage but from the early drafting phase as well.”

He continued, “For the medium- to long-term development of the virtual asset market—such as spot exchange-traded funds (ETFs) and stablecoins—convergence between traditional finance and the virtual asset industry is inevitable,” adding, “I expect the National Assembly to work on legislation that reflects this trend.”