Editor's PiCK
FSC Chairman Kim Byung-hwan: "Plans to Submit Second Phase Cryptocurrency Legislation to National Assembly in Second Half"
Uk Jin
Summary
- FSC Chairman Kim Byung-hwan announced plans to submit the second phase legislation for virtual assets to the National Assembly in the second half of this year.
- While there is no precise timeline, he indicated that submission is planned for the second half of the year.
- He stated they will accelerate the second phase legislation process in consideration of international trends.
The second phase of virtual asset (cryptocurrency) legislation is expected to be submitted to the National Assembly in the second half of this year.
According to industry sources on the 24th, when asked if there was a precise timeline for the working group-level meetings regarding the second phase of virtual asset legislation, Financial Services Commission Chairman Kim Byung-hwan stated that while "we don't have an exact timeline," he added that "we have a general schedule to submit the second phase legislation to the National Assembly in the second half of the year."
Chairman Kim further stated that "we will expedite the second phase legislation as much as possible in line with rapidly changing international trends."
Uk Jin
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